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How do you accurately determine the value of the property? (Advanced)

Determining and negotiating property value. A buyers advocates guide

Following our other article on determining the property value, this advanced methodology will help you fine tune your estimate and determine the value to a higher degree of accuracy.

In our earlier blog, we've touched on the preliminary steps to assessing the value of the property. Briefly, it involved:

  1. Know the property you are assessing. Find out as much details and characteristics as you can about the property.

  2. Look for other similar properties being sold in the area.

  3. Look for similar SOLD properties in the area. Again, find out as much details and characteristics as you can about those properties.

  4. Have a good understanding of the demographics of the people living in the area.

  5. Have a good understanding of the buyers of those properties in the area.

  6. Have a good understanding of the local property market.

How to determine a more accurate value for the property?

This next step, is going to make a big difference, to the whole process of determining the property value. And this is something which most buyers struggle with, if they do not have enough experience and done enough homework. This is also the most critical step which most "remote Buyers Agents" with hidden agenda would not do for you. You will know why, once you understand the process. So, here it goes...

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