Property Purchase Consultant, Julia Gee gives insight on how Quick Move Now go the extra mile in helping our customers to understand the valuation of their homes…..
As a member of the Quick Move Now team I speak to people everyday about all aspects of selling their home and help them proceed onto their next move, whatever that may be from upsizing/downsizing, moving abroad, former buy-to-let properties or inheritance cases.
Part of the promise Quick Move Now make to their customers is that we are totally transparent and offer a house buying service that is second to none.
We support our clients throughout the entire house buying process and are always on hand to answer any of their questions. This safeguards the customer to make the best informed decision for them.
One of the most common conversations I have with my customers surrounds the value of their property.
It can be a minefield trying to understand the different terminologies used when selling a property and once you’ve spoken to Estate Agents, Banks, Investors and the like, customers are usually confused on where the value of their home actually sits and this leaves them with an inaccurate or inflated expectation.
I always advise clients to do some research on the internet. Websites such as Rightmove provide a wealth of information to help gage an idea of what the property could be worth.
It’s also shows the latest sold prices in a particular postcode and you can of course look to see what your property has to compete with on the open market. This information can also assist customers with their onward purchase and will help determine what region and price they should be paying for their onward buy!
We have as many open discussions as we can as regarding the value of a home and we are sensitive to the emotional attachment which goes alongside this, but we also promise to be transparent with our opinions.
When we have discussions relating to the value of a home we always ask the client where they feel the value lies, sometimes the owners are unsure but a lot of the time the house has been valued by one or more sources – most commonly an Estate Agent.
When we buy a property from a client we purchase from the market value. Helping a client to understand where market value lies is probably one of the most challenging aspects of my job and being sympathetic to the fact they may have just spent 10k on updating it or it is the family home of 3 generations does not necessarily mean it has a higher value.
Having a valuation, asking price and market value can be very confusing. The asking price is usually generated from an estate agent and it is simply that, an asking price.
Many people I speak to believe the asking price is the value of their home when in actual fact the value lies somewhere underneath the asking price. This is then your market value – the price your home is actually likely to achieve, very rarely now do people achieve full asking price on the open market.
If you are unsold for a few months on the open market then this is not the value of the property. A valuation is usually a ball park figure between the two.
Mostly the value of the property is determined by the market conditions and we try very hard to run through all research notes with our clients so they understand where our rationale comes from and hopefully helps to educate them further, even if the enquiry ends there we can at least be confident we have kept that promise of transparency all the way along.
It builds a trust with our clients, in an ever changing market place, enabling us to fulfill our promise which we make from the beginning.