How To Calculate The Market Value Of A Property
Here at The Property Buying Company, we mainly have one core offering, our Sell House Fast service. This service is different to the typical house sale process through an estate agent or auction.
The question is can you use a sell house fast service and get 100% market value of property? In this article, you will find out what our sell house fast service is, whether you can sell a house fast and get full market value and whether our service may be the right thing for you.
Market value is the estimated amount for which your property is worth, based on the current market. If the market is more saturated with buyers, then the market value of property at that time will be higher compared to if the market is saturated with sellers.
There’s no universal way of measuring market value, so each individual valuation will likely be slightly different, as each valuer will have their own opinion.
As a seller, you may feel your property market value should be higher than what it actually is, which can lead to you either putting off potential buyers or feeling dissatisfied with what you end up selling your property for.
In the past, the only way to find out your property’s market value was to invite a few estate agents to your property to have a look around and allow them to give their opinion.
However, now due to the advancements in technology, there’s a lot more information available to the public. You can access sold prices in your area, as well as pictures, floorplans, asking prices, and descriptions which can help you to see how your property compares.
Websites such as Rightmove and Zoopla will be able to provide you with this information. Some websites will also provide you with a rough online valuation, but just like using different estate agents, different websites will give you a slightly different idea of what the property market value is.
When people want to put their house on the market, each individual will have a different idea of what the market value is in their eyes and how quickly they want to sell. For those wanting to sell property for full market value fast, it brings about an important question as to whether you can sell your house fast whilst still receiving 100% market value.
Essentially, you can’t use a faster house selling service from a cash house buying company and still receive 100% market value. Cash house buying companies are a business and so in order to stay in business, they must buy your property at a discount.
If you’re being offered 100% market value of property whilst also being guaranteed a quick house sale, there’s a reason it feels too good to be true – because it is!
The only way to try and get 100% market value fast is to list your property on the open market. However, even using this method there are no guarantees of getting either 100% market value or a fast house sale – in most cases, you will end up with neither.
Also on the open market, even if you end up with a higher fee than our sell fast service can offer you, you will still have a lot of fees to pay, with the estate agent and legal fees making up the majority of that.
With us, you’re able to bypass all fees, meaning you receive our full cash offer in your bank.
Do you have your house on the open market with an estate agent? They might be pushing you to reduce your asking price, but is it the right move for you.
If you have the time and patience to want to try selling on the open market, then there’s a chance you may be able to get market value. However, you need to remember, there are no guarantees and all the fees you have to pay will come out of this amount, meaning you will be left with lower than expected.
Invite some estate agents into your home and get them to give a property valuation. After you’ve received all valuations, it’s up to you to pick which one suits you and your property the best.
After you’ve chosen an estate agent, they will organise for your photographs, floorplan and EPC to be done, and a description to be drawn up so your house can be advertised on popular property portals.
The next step is for potential buyers to come round and view your property. Your estate agent should handle this for you unless you’re happy to do it yourself.
If you get an interested party, they will submit an offer. It’s then up to you to negotiate with your buyer until you agree on a price that you feel is suitable.
Once you’ve negotiated with your buyer to get them to a price you’re happy with, you can accept their offer and allow the deal to progress.
The conveyancing process can now begin, which will include having a survey and searches on your property. The results of these will go to your buyer’s solicitor.
Once the results from the searches have come back, if all parties are happy with the outcome, then contracts can be exchanged, which is where the deal becomes legally binding.
Once completion day arrives, the funds from the house sale will be transferred into your bank, which then means it’s time to drop off the keys and move out of the property.
We’ve worked hard to make our house selling process as quick and hassle-free as it can be, which you can see as it breaks down into these 5 simple steps:
Enter your postcode into our get an offer page and answer a few simple questions about your property – how many bedrooms you’ve got, your house type, nothing too challenging! After that, we will let you know if your property has been approved.
Once we’ve got your information, one of our experienced property consultants will give you a call after doing some research on your property. They will discuss your property in more detail with you, talking mainly about its condition, which allows them to provide you with a conditional initial offer.
If you’re happy with the initial offer, we’ll then arrange for one of our regional managers to come and visit the property in person. Our regional managers have expert local knowledge and are able to inspect the condition in more detail in order to finalise an offer.
If you accept the finalised offer, then it’s time for us to instruct our solicitors. Our progressions team will get in touch with you to talk about instructing one of our recommended solicitors, and we will remind you that we will cover the costs of this. We will also pay for the searches and RICS on your property.
Once the RICS report is back, providing everything lines up, we will finalise all the legal work, allowing us to exchange contracts and complete on a day that suits you!
We’re always open and transparent about the fact our house selling service isn’t for everyone, so it’s important you decide if it’s right for you.
The main purpose of our service is speed – if you have the time (and patience) to wait on the open market for a sale, you may achieve a higher value, but there are no guarantees of that.
Our particular service may be the best option for you if:
A divorce is a difficult time for all involved, so often couples look for a quick sale to get the property sold, meaning it’s one less thing to worry about.
Sometimes there comes a time when people decide they want to downsize, get the equity from their house and move into a property more suited to their needs. The need to downsize may be as a result of health or age, so it’s important to get a fast stress-free sale.
Inheriting a property and dealing with probate comes at a time when you have other stresses, and you don’t want to be weighed down with further worries of paying the bills for this inherited property. In this situation, a lot of people search for a quick sale.
Often people run into financial difficulty and feel they need to release some equity from their house ASAP, especially in those situations where you’re looking to avoid repossession. In these circumstances time is of the essence, making a quick sale a top priority.
Whether you’re moving to a different city or country, relocating can be something that happens very quickly, meaning you need to get your house sold FAST.
When choosing a cash house buying company for a fast sale, there are certain things you need to be wary of.
Any cash house buying company offering to pay you the full 100% market value as well as a fast sale are promising something that they simply won’t deliver.
When choosing which company to go with, it’s important you do your research in order to make an informed decision and not get ‘scammed’ by empty promises.
If you’re asking us, we’re pretty confident our sell house faster service will be exactly what you’re looking for…
We’re more than just a standard cash buying company. The Property Buying Company is owned and operated by property professionals, founded in 2012, and with over 50 years combined experience, you can be sure you’re in safe hands.
We’re also a member of The Property Ombudsman and the National Association of Property Buyers, further emphasising why we’re the people you can rely on. On top of that, we understand what it’s like to sell a property and all the stresses which can come along with it, so we will always be up for a chat to listen to your worries, and we handle the whole process for you.
We’re also rated excellent on Trustpilot, with over 1,000 customer reviews.
We will always be open and honest about our process and service – we will tell you upfront what we can offer for your property, and we will keep you constantly updated, including any issues we face and how we will do our best to overcome them for you.