Do you know the difference between a market appraisal and a valuation? The first step, when you’re thinking of selling a home, is commonly described as booking in a ‘valuation.’ But in some cases, you’ll see it called a ‘market appraisal.’ Let’s look at the differences between these two terms.
“If I want to sell a property, do I book a market appraisal or valuation?”
What is a market appraisal?
Most people book a valuation through an estate agency, so that a professional will come to their home and recommend a marketing price. However, technically, they’re booking a market appraisal.
Because people who are selling a home typically refer to this process as a valuation, and that’s what they are looking for when they book us in, we use the term ‘valuation’ as a shorthand for the market appraisal service. We want our sellers to be able to achieve the best price for their sale.
So, whether you call it a market appraisal or a valuation, if you book with Foxtons, a Valuer with a practiced eye will gauge your property’s condition, location, unique features etc. They have done research beforehand, so they can draw on cutting-edge data and their robust knowledge of the current market to give you a reliable recommended price at which to list your property. Then you’ll sit down together and they’ll talk you through their custom strategy for selling your property.