Property valuations are the backbone to beginning any change to your real estate landscape. Home and business values are affected by many different things. The market, changes to the area, the sale of other homes, rental prices, and even how much business your location may do. Finding the best use value is an in depth process.
Who Does the Valuation
Understanding who can supply you with a valuation of your property is paramount. A licensed Realtor or appraiser can provide you with a home value estimate. Most times you can obtain a free competitive market analysis from a local Realtor. This valuation estimate doesn't guarantee the price of your property, as that is set by the market itself. However, they will provide a healthy high, low and median range to provide flexibility.
Depending on your property type and the method being used, the process can vary greatly. For example, a home value can be done as a primary residence or an investment property if it's a rental. A business can be valued based on the income it generates, or how much it would cost to replace the property. As you can see, knowing the best options is paramount.