Finer Values for the best Property Estimates
Estimate the value of your property is a crucial step to make a successful sale. There are different ways to get property estimates. Some are free, others are chargeable. Different providers (notaries, real estate agencies, experts) or online services can help you. Discover all the solutions to get an estimate for your apartment or your house and our advice to use them wisely. From FifthandHazel blog we will share everything you need to know about it.
Each item is unique and studied in detail
There are different sites on property prices that can allow you to get a first idea of housing prices in your geographic area. However, to obtain a much more precise assessment of your property, you cannot simply apply an overall average price per square meter to the area of your apartment or use the average sale price of a house. . Each property is unique, not least because of its location. Even two identical apartments in the same building are not located in exactly the same place (not the same floor, not the same exhibition, etc.). There are therefore a multitude of criteria to study in order to establish the true value of an apartment or a house. Estimate your house or apartment therefore requires contacting those who have experience with these assessments and those who have access to precise information from previous sales on your local real estate market.
Free online estimate sites for a house or apartment
In recent years, many free online property appraisal sites have emerged. Most of these sites are based on databases containing a lot of information on sales made in the near past. They can give you a price range for your accommodation without even visiting it. The more similar sales there are in your geographic area, the more precise these online evaluations will be. For example, estimating the price of a studio in Paris will be easier for these online services than giving a precise value for an architect’s house in a city of less than 50,000 inhabitants.
- Notaries are the people who record and formalize all real estate transactions. They are the ones who recover real estate taxes on a purchase for the State. Notaries are therefore very well placed to know the real value of real estate in the city or region where they practice. The expertise of a notary on your house or apartment can be done in two different ways: Either the notary provides you with a “certificate of expertise or valuable opinion”. It then estimates your property based on a method which excludes any audit of the accommodation.
Either the notary studies very precisely the market value of your property during a detailed appraisal. It then communicates various elements to you as examples of similar transactions. To fix a value precisely, notaries have access to the BIEN database for Ile-de-France and the PERVAL database for the Province. These databases contain all the information on real estate transactions and are used to provide notary price statistics.