A house valuation is an important part of buying a new house or selling your old house. It will tell you about the house itself and how much it may potentially sell for. Depending on where you look for a house valuation, that data will be accurate enough however to give you an idea of the house’s value, or otherwise you’d have to take it with just a touch of salt. There are many sites out there that offer a house valuation for mortgage loan so don’t feel like you have to stick to one formula. The most commonly used house valuation for mortgage loan is the comparables.
These are people who have studied many different types of homes for sale in the area and can look at the houses on sale and give you an estimate based on these homes. Comparables are very important and are usually the best way to get an accurate and fair house value for your mortgage. Many mortgage lenders offer a free and quick house value estimates online and sometimes they will also be able to send you a hard copy of the estimated house value for your loan. These are great as you can take the estimates and look over them to see if you agree with them or not.
Estate Agent House Valuation for Mortgage
Estate agents valuations are another way to look at selling your house and get an accurate house valuation for mortgage loan. These are done by estate agents and are usually very accurate as they have experience of looking at many homes for sale. These estimates are very reliable and should be relied upon heavily when you are selling a property. If you are going to rely on an estate agents valuation it is important that you ask lots of questions and get to know who the person is that is doing the valuation.
A house valuation for mortgage done by an independent realtor is also a good way to get an estimate on your home’s market value. This may be more expensive than other appraisal types but if you know how much your house is worth, you can get the ball rolling with a potential buyer and give them a fair idea of what they should offer you. You will still need to do some negotiating with the buyer at this point. Most appraisers are trained to find what the house is worth and not what you want it to be sold for.
House Valuation for Mortgage by Independent Surveyor
Many people who are selling their homes prefer to use a house valuation done by an independent surveyor. While surveyors may be more expensive, they are still less costly than using estate agents or an appraiser. Most surveyors are just a few hundred dollars per square foot and the majority charge around $200 per hour. Most agents will quote you anywhere from two to four times your estimated value for your home. Make sure you negotiate with the agent before you do go into the house valuation.
The mortgage company will usually have an appraisal specialist or a realtor that they will recommend to you. Usually the mortgage company will have a team of appraisers that visit your house to get an appraisal for the house. When the time comes to sell your house, the appraiser will make the final decision as to what your house is worth. If you are looking to refinance or sell your home, having a house valuation done by a qualified appraiser or realtor is essential in getting a good return on your investment. Your local lender or your mortgage company should be able to help you find a qualified appraiser or realtor in your area.