The beginning of January is often a popular time to make important decisions as we enter a new year. In addition to the classic "lose weight", the purchase of a new home or condo that is more suitable for the family is one of the projects that often comes up.
The challenge people face is determining how much they could get for their house or condo.
Many people rely on the municipal value, which in my opinion is an inadequate measure. Indeed, this data does not provide you with the true market value of a building, especially if the prices have increased dramatically as we have witnessed in the last few years.
So what to do?
Here are some solutions for you.
1. Appraiser
The role of the appraiser is to give you the value of your home at a specific moment in time.
He will visit both the interior and exterior of the property.
The appraiser is the expert in the field and it will cost you approximately $400 to $600 for his services.
You should also allow a few weeks for the report to be obtained, which can then be used in the sale with a future buyer.
2. Real Estate Broker
A real estate broker can provide you with a fairly accurate market value of your property. If you have more than one broker visit your property and the value is not the same, be careful not to rely only on the highest estimate. Ask to see the comparables used to better understand its market value. Although there is no charge to the broker for this service, he hopes you will choose to sell your property with him.
3. Internet sites
If you type in "How much is my house worth?" into your internet search engine, you will be presented with a ton of results offering to evaluate the value of your house for free. Why? This is a method used to obtain lists of potential contacts for real estate brokers. Normally, the broker will indicate in the footer of the website that they are a real estate broker. Is there a problem with using these sites? No, not at all. Nevertheless, just make sure that you don't fill out 10 applications, as you will be making several people work for nothing.
4. Specialized sites
Some specialized sites for getting comparables such as JLR, My Prospector and Matrix are often used by professionals in the field and not the average person.
Advice
- Don't go into the sale of your home without having an idea of its market value.
- Remember that supply and demand in your area greatly influence the value of your property and this varies from year to year.
- The municipal value should not be used to determine your selling price.
- The cost of obtaining an appraisal is minimal compared to the selling price of homes.
Source : Article by Ghislain Larochelle on the website journaldemontreal.com on the 6th January of 2022
Link : https://www.journaldemontreal.com/2022/01/06/comment-determiner-la-valeur-de-ma-maison
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