How to know the current market value of your property

Current Market Value

If you know how to research on the internet, then it is easy for you to find out a comparative selling price of similar properties nearby the area of your property. It may not give you a fair reasonable price since some sellers will only set a selling price they want but may not be realistic, but you still can find out the range of value of similar property in your vicinity.

 

If you want a more accurate assessment of the value of your property, you can hire a licensed real estate appraiser to do the job for you. Certainly, you have to pay a professional fee. But the appraised price can certainly support your claim of your selling price if a buyer question about the basis of your selling price.

 

You can also inquire with your broker or agent since they may have experience in selling similar property near your vicinity however it may not be as accurate as a licensed appraiser. Their opinion can only be considered as a reference but not necessary a decision for your selling price.

 

Sometimes, a seller can add a certain percentage on his acquisition cost to set the selling price, but certainly it must be close to the current market value of the property.

 

Raymond Ong

Global Investment Director – Land Asia Global Properties Network

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