Valuation of a property: how to proceed?

Need to set the selling price of your home? Thanks to our practical advice, assess the price of your property on your own. Real estate professionals can also estimate your home. We tell you about the procedure to follow and the various steps. Also discover the mistakes to avoid when you want to sell your house easily.

What are the reasons for estimating the price of a property?

Apart from a real estate sale, you may need to assess the price of your house or apartment. There are at least three situations in which it is imperative to know the price of your property: during tax procedures such as an inheritance or donation, in the event of divorce or repurchase of credit.

Tax procedures

In the case of a tax process, do not think of undervaluing your property in order to pay less taxes. The tax administration reserves the right to correct the price after comparing your property with similar products on the market. To carry out this kind of operation, the Fisc has a database.

Divorced

In a divorce by mutual consent, the goods must be shared. When the real estate assets are made up of several goods (house, apartment, land, etc.), each of the two parties must agree on the value in order to proceed with the partition. The intervention of a real estate expert allows the precise estimation of real estate. This facilitates the work of the judge or mandated notary.

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Credit repurchase

If you opt for a loan buyback, know that banks appreciate having the most accurate estimate possible of your real estate assets. The banking establishment can carry out the valuation of the property internally or afford the services of a real estate expert working independently.

Criteria for valuing real estate

To get a first idea of ​​the price of your house or apartment, set the amount objectively. For this, base yourself on estimation criteria. To find a buyer quickly, according to the les-masure.fr site, it is important not to be out of step with the market.

The main criteria for evaluating the price are:

  • the geographical location of the property : location, town and proximity to shops and services. Is the accommodation located near a school, public transport? A well-located home is always more in demand than any other type of property. From one district to another, the prices vary greatly.
  • the neighborhood dynamism. If the area seems deserted, this will have a negative impact on the selling price of your property. On the other hand, if urban developments are planned, such as the construction of green spaces, this will work in your favor.
  • the economic situation of the municipality. A high unemployment rate does not encourage setting up.
  • the real estate itself. The future purchaser will be sensitive to his general condition (work to be planned or not), to his situation (apartment on the ground floor or upstairs, street or garden side, presence of elevator, etc.), its area, its layout as well as its orientation (view, sunshine…).
  • in the case of an apartment, the condition of the building is also very important. If the facade has cracks, this will not reassure potential buyers.
  • the condominium fees. In case of high charges, the purchaser will probably ask you for a gesture. Set the price of your property accordingly.
  • the energy performances have had an impact on the price, since their arrival in 2011. A good energetic label pushes an estimate higher.
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A good knowledge of the real estate market

To sell your property at the right price, it is essential to take the pulse of the market. Like a real estate expert, compare your property with similar products on classifieds sites. Consult dozens of offers to position your house or apartment. This research will also allow you to realize the demand.

To assist you in your efforts, there are sites with real estate price indices. They also provide online estimation tools. Admittedly, these are not very precise indicators, but they will serve as a basis before calling on a real estate professional. Among the existing sites, there is barometre.immobilier.notaires.fr or Meilleuragents.com.

Have your house appraised by a professional

It is advisable to have your property valued by at least three different professionals. You can use a real estate agent, a notary or a real estate expert.

To fix the selling price of your property, the professional must go there to see for himself its general condition and its surface area. Beware of rising estimates. Some real estate agencies pay according to the number of mandates.

Notaries, for their part, rely on their database to assess a property. They are qualified to appraise all real estate.

The real estate expert must meet certain criteria to be able to appraise your home. He must have followed specific training or have experience in real estate valuation of more than four years. He must also respect the ethical rules as well as the main principles of evaluation.

Calling in a professional comes at a cost. Real estate experts practice free prices.

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