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5 Things You Need to Know About an Online House Valuation

Valuation is one of the most important responsibilities you have as a seller.

You naturally want to sell your property for an impressive sum. If you undervalue it, you’re making a mistake and missing out on potential profit. In fact, you may actually make it harder for the house to sell. Potential buyers will compare it to other properties in the neighbourhood, and they’ll conclude that something must be wrong with yours because the price is low.

But setting an unfairly high price is just as counterproductive. You’ll miss out on some excellent opportunities and waste time. Even if you’re willing to negotiate on the price, you’re alienating serious buyers and making the sales process unnecessarily fraught and complicated.

Online House Valuation – A Simple Way to Get the Selling Process Started

Formal valuations are getting replaced with the easy online equivalent. Here is what you need to know about using the internet for property valuations.

1. Online House Valuation Saves You Money

Traditionally, valuation requires experts to analyse the property. To find out what your house is worth, they need to know the following:
What neighbourhood is the property in, and how well do nearby properties sell?
How many bedrooms does the property have?
What are the current market trends in the city or town where the property is located?

But online valuation tools can be just as effective. These tools use algorithms to determine the value of your house based on the facts you entered. By using online valuation, you can save up on hundreds of pounds. Some agencies, like Doorsteps, allow you to use their value calculator for free.

2. There Is a Difference Between Selling and Letting Valuation

The best selling price for your house will depend on the above parameters – mainly the address and the number of bedrooms. But what if you are planning to let the property instead of selling it?

It can be difficult to tell how much your property is worth to potential tenants. Once again, using an online tool is a fast and convenient way to get the answers you need. Remember that you’ll get the best-quality tenants if you set a fair rent. Undervalued homes tend to attract tenants who aren’t going to stick to a regular payment schedule.

3. It’s Useful to Re-Evaluate Your Property from Time to Time

Convenience is one of the most significant upsides of online tools. You can get a quick and accurate assessment of what your property is worth without having to schedule any meetings. You don’t even need to pick up the phone. The only thing you have to do is to fill out an online form and add some contact details.

This means that you can do it routinely. Hence, online house valuation lets you keep an eye out for good times to sell.

The property market is going through some rapid changes in the wake of the Brexit referendum. Prices are going down in some parts of the country, and they’re soaring in some locations. So if you have a property you may want to sell in time, it’s a good idea to check its current price. You may discover a new opportunity.

4. Online Valuation Is Only the First Step

Some people use these free online tools and then create online or newspaper ads. This method may work out well, but there are many more methods at your disposal if you want to make your sale as successful as possible.

If you decide to work with Doorsteps, you can get in touch with our online estate agents. They’ll use the valuation to help you find the best way to sell your property. They’ll schedule an on-site meeting with you, and then they’ll photograph the property and draw up a floor plan. After this, Doorsteps takes care of advertisements for you.

5. There Are Other Useful Tools You Can Use

In addition to online valuation, you can dig deeper into the possible worth of your property. There are websites that let you look at price trends, broken down by property type or even nationality. You can also look up past ads in the region, selling prices included. If you’re putting together a long-term plan, you can also read up on forecasts for your neighbourhood.

What Is the Takeaway?

Online tools aren’t the be-all and end-all of house valuation. But they’re affordable, easy to use, and they can give you some basic guidelines. Between these tools and an experienced agent, you can be sure to set the best price for your property.