How Do You Determine the Market Value of a Property for Sale
Determining the market value of a property for sale is a crucial step in the selling process, impacting how quickly your property sells and how much you ultimately receive. Understanding this value helps you set a competitive price for property for sale Hamilton NZ that attracts buyers while ensuring you get a fair return on your investment. Here’s a comprehensive guide on how to determine the market value of a property: Conduct a Comparative Market Analysis (CMA) A Comparative Market Analysis (CMA) is one of the most effective methods to estimate your property’s market value. This involves analysing recent sales of similar properties (comps) in your area. Here’s how to perform a CMA: Identify Similar Properties: Look for properties similar in size, style, age, and condition that have sold recently in your neighbourhood. Compare Sale Prices: Examine the sale prices of these comparable properties and note any adjustments for differences (e.g., extra b...