Confused About What Is Important When Inspecting Property?

If you are getting serious about buying property, you will be checking the internet for something in your price range, and considering the locations that best suit your needs. You may even have attended a few open homes and with many of them now staged to sell by professionals, you have come away confused about what is more important, the styling or the structure itself.

Don’t Be Fooled by Clever Styling

While styling will show a prospective buyer how to place their own furniture and accessories for maximum impact, it will not alert you to some of the more important and expensive issues you could overlook. A clever stylist knows how to draw the eye away from the least attractive parts of the property, so it is important to be aware of some of the potential pitfalls.

ID May Be Needed to Access an Open Home

Be prepared when attending an open home to provide identification. This is a security measure and many of our sellers ask us to do this. When we advertise open home inspections, we have a responsibility to the owners to take care of their property and possessions. At Bunbury Real Estate we take this seriously.

Be Practical – Look for Faults

If the property’s street appeal, overall size, number of rooms, amenities and car accommodation are what you are looking for, now is the time to be practical and look for obvious faults. Water leaks, for example, can be hard to spot, so check the cabinets in the wet areas for the smell of damp, or any signs of mould.

Unexpected Repairs Spoil the Enjoyment of the New Property

Bathroom and bedroom walls are another area where mould can build up, and often this just looks like a smudge on the paint work. Excessive mould should be cleaned professionally and the original cause investigated. It could be something that will need expensive repairs you were not expecting.

Check for sloping or bouncy floors that may mean stumps need replacing, and blisters or bubbles on paintwork that could indicate the presence of termites. Cracked walls may be evidence of subsidence. Building and pest inspections by experts will usually reveal the full extent of any rectification needed.

We sometimes have circumstances where a buyer is still keen on the property, and the seller is willing to adjust the price down to take account of repair costs.

Check the Location for Flood or Fire Risk

Be aware that even though the property and the location may look perfect now, it could be in a major flood area or even be a bushfire risk in the right climatic conditions. Buying property is a major financial commitment, so it is worth taking the time to check everything before deciding.

Real Estate Stories – Fact or Fiction

Whether you are a buyer, seller or renter, it seems that everyone has an opinion about real estate. As a result, there are more myths attached to the real estate industry than Stonehenge or the Great Pyramid of Giza. Are they doorways to an alternative universe or evidence of alien visitations? We can’t answer those questions, but we do know that many real estate myths are easily busted with some reliable information.

I Don’t Need an Agent – I Have the Internet

One myth created by the internet is that you don’t need an agent to sell your home. Listing your property on the internet is easy, but the agent’s role is more complex than uploading a photo of your house. The agent is the property market expert for your location. Agents know which properties have changed hands for what price, how long each property was on the market before it sold, and what buyers are looking for in the area.

This information is critical for the seller, especially one who has an inflated price expectation. At Bunbury Real Estate, our agents advise clients on realistic prices that will attract buyers so their properties will sell in the average time for that location. We also supervise inspections, keep contact details of who attended and they negotiate the best price and settlement terms for our client, the seller.

Why Pay for Print Advertising? It’s all Online These Days

Online advertising costs little and reaches a huge audience, but in real estate, this is not as effective as it first seems. Firstly, online searches are very specific, so if buyers don’t filter searches correctly, your property will be competing against thousands of irrelevant searches. Secondly, in most housing markets, the majority of buyers are locals. Advertising in the local newspaper is worth the cost. In fact, only 27% of buyers look exclusively online, while 59% of buyers use both print and online to find their perfect property.

Before-sale Renovations Will Make our Property More Valuable

This is a very common misconception. Renovations may increase the value, but only if the seller does some research first. Get a realistic value of the property as it is, then work out what renovations will cost. Add the two together and then ask your agent if the new price is within market expectations.

Things like tidying, rubbish removal and maintenance will not usually get you any more money but they improve the presentation. Electrical, plumbing and structural changes must be done by experts and many buyers will expect to see the paperwork, so do-it-yourself could cost you a sale.

These are just a few of the common myths we regularly face as selling agents. There are many more, so if you are unsure about anything you have heard, just ask us.

Serious Buyers Are Like Gold – Make Their Decision An Easy One

Deciding to sell your property is always difficult, but if you are serious about attracting buyers, you must do several things to keep them interested in what you are offering. A serious seller must view everything from a buyer’s point of view and identify what is most likely to put them off a property and go elsewhere. This requires sellers to treat the event as a business transaction and keep their emotions in check.

We Know What Will Turn Buyers off an Inspection

Fortunately, we can help with this. After years of experience in handling property transactions, our staff members at Bunbury Real Estate have seen and heard almost everything to do with buying and selling real estate. We can spot what buyers will not like almost immediately, so we offer a few suggestions for sellers who are having trouble with the process.

Exterior Appearance Must be Attractive

The first thing that will keep buyers away is the overall appearance of the property. Everything must be clean and tidy, so make sure the lawns and gardens are well maintained. Wash the outside of the dwelling and paint anything that looks shabby. Remove any rubbish and clean out garages and sheds.

Clean and Tidy Inside with Everything Working

The inside must also be clean and tidy, and everything should be in working order. That means that air-conditioning units, ceiling fans, heaters, kitchen fixtures such as cooktops, ovens, range hoods, dishwashers, et cetera, must work if a curious buyer turns them on. There must be no leaking taps, toilets that don’t flush properly or other annoyances a seller may ignore that a buyer will not accept.

Get Rid of Those Awful Smells

Are there any unpleasant smells inside the dwelling? A seller who is also the occupant may not notice pet smells in the carpets or cigarette smoke in the curtains, but buyers will. Get them professionally cleaned, and make sure your pets are not present during an inspection.

Buyers Dislike Clutter – Clean it Out

It’s alright to be untidy and clutter up a dwelling when you are living there, but buyers want to see how much space is available and this is impossible to show if rooms are filled with your stuff. De-clutter down to the essentials, and if you don’t know how to do this, find someone to help you. It will be worth the effort.

Buyers Have a Budget – Don’t Annoy Them by Keeping the Price a Secret

Finally, listen to the advice of your agent about pricing the property. It is our job to know the market in the area, and we will recommend either a fixed price or a range to attract the right buyer. Properties that are listed on line without a price will be quickly scrolled through to get to the next desirable property.

Our role is to get you the best possible price for your property in the current market. Help us to help you by following these few simple instructions.

Clean Up Your Property For The Best Sale Price

Every property owner wants the best price possible when they list their home for sale. The properties that sell the quickest for the best price usually have something about them that makes them stand out. A great position, extra space, special features, proximity to transport and employment, and a property that is immediately liveable are the attributes most sought after by buyers.

It is the last attribute that seems to escape the notice of some sellers. As property agents ourselves, we are constantly amazed at the state of some properties we are asked to list for sale. While we understand that everyone has the right to live in their home the way they want to, there are some things that should be done before they ask our staff at Bunbury Real Estate to present it for inspection.

Easy Changes Have the Most Impact

Often the changes needed to get the best price are the easiest to do, so we offer some suggestions for sellers who need a bit of guidance. The first thing to do is increase the street appeal. Mow the yard, weed the gardens, clean the paths and driveways with a pressure hose, trim trees and shrubs that overhang or obstruct the front of the house.

A Clean Exterior and Some Minor Repairs Work Wonders

Now that the house can be seen clearly from the road, does it need cleaning? Wash the walls and windows, clear out the gutters, do minor repairs such as replacing damaged insect screens, broken steps or unstable hand rails. If it still looks shabby, a coat of paint in a modern colour scheme will have buyers stopping at the front gate to look further instead of just driving by.

The “Wow” Factor for the Interior

Now to create a “wow” factor once they get through the front door. This means starting with clean floors, walls and windows. Again, paint is the cheapest way to improve the interior of a dwelling. It covers the stains that won’t wash off, and by using the latest light reflecting colours, any rooms that need extra light will immediately get a lift.

Replace Anything Worn, Torn or Shabby

If the floor coverings are stained or ripped, replace them. Dirty, shabby or faded curtains should be taken down and disposed of. Replace them with the latest blinds. There are so many different styles now available that even the humble roller blind will be an improvement on old curtains.

Kitchen and Bathroom – A Quick Respray

Kitchens and bathrooms are more expensive to rework, but replacing old kitchen appliances with new stainless steel ones has an immediate impact. If money is an issue, respraying the cabinets, bench tops, tiles and bathroom fixtures, and installing new tap wear may be enough to finish off the upgrade.

Neat, clean, tidy, no pests or unpleasant smells, no rubbish in the yard – that is all it takes to get the best price.

Property Valuations VS Appraisal: Knowing the Difference

Your property is a big investment, so as much as possible you will want to protect your investment. To protect your investment, you must have a clear idea of how much its value has gone up or down. That way, you will be able to make the necessary upgrade or renovation to make sure that your property is competitive when you put it up for sale in the market.

To get an idea of the value of your property, you can get valuation or appraisal from an expert. Many people tend to use these terms interchangeably, but actually they are not the same. There may be a time when you will need an actual valuation and not just an appraisal. Here is a quick distinction of the two terms to help you out.

Property Appraisal

Appraisal can be considered as an educated guess. This is a good estimate of how much your property would be worth. Out trusted agents at Bunbury Real Estate can assist you should you need an appraisal of your property. Our agents have a broad and extensive knowledge of the real estate market in the area and they use this knowledge to provide a good estimate of the value of your property.

At Bunbury Real Estate, we provide you a hassle-free way of getting a good estimate of your property via our free online appraisal service. You simply need to provide a few details about your property and one of our real estate agents will make an assessment of your property. Our agent will compare your property with other similar properties in your area to give you a good idea of how much your property should be worth.

Property Valuation

Property appraisal is a good estimation of the property’s value, but there will come a time when you will need more than just an estimate. At such a time, you will need to get a property valuation. This can only be provided by a registered and licensed property valuer. Property valuation is a systematic process to come up with the actual value of the property. This needs to be done by an unbiased party and involves a complex process.

During property valuation, different factors come into play, including the location of the property, the condition of the property, features of the property, encumbrances, damages and any other factors that will affect the value of the property.

Property valuation is usually required when obtaining financing from a lender or when determining the value of the estate of a deceased individual.

In essence, the difference between appraisal and valuation is simple. Appraisal is a good, informal guide that you can use to price your property, whereas valuation is something that is legally acceptable and accurate.

What Do Appraisers Look For During Home Appraisals?

If you are selling or buying a property, one of the items you are likely to be focused on is the price of the property. This will be the case if you are selling a home and you are hoping to receive a particular amount of money from the sale. For the price of your home to be determined, you will need the help of an appraiser.

Bunbury Real Estate offers a free appraisal service in the Bunbury area. Our team of expert appraisers can provide you with a realistic price for your property, based on existing market value in the area as well as other factors that affect property prices. Contact Bunbury Real Estate for free appraisal of properties in Bunbury, Eaton, Australind, Dalyellup, Busselton and Capel.

It will be beneficial if you know what appraisers are looking for when they put a price on a property. This way, you will have a chance to make changes that will positively impact the pricing of your property. Here are some of the items to be mindful about.

Property Size

The first major item that our appraisers check is the size of the property, noting the number of rooms, beds, bathrooms as well as the size of those rooms. If your house is spacious and has a good number of rooms, then it will most likely be priced higher. The property size is just one factor, however. You will still have to look into other items that will affect the price of your home. It is very possible that you will get a low price for your big home if the other items on the appraiser’s checklist are below standard.

Curb Appeal

You should not ignore your front yard because this is one of the top items in the appraiser’s checklist. You will be amazed to know how little improvements in your front yard and backyard can jack up the price of your property. The improvements need not be expensive. Clean the yard, clip branches, improve the pathway and incorporate some interesting plants to offer a better first impression with potential buyers.

Interior Quality

Your property will be priced higher if the interior looks spacious and has a cohesive design. Check the condition of the structure, the walls, floors, doors and windows and make sure that there is no damage. It will benefit you if you upgrade any portion of the interior that looks outdated. It may be a simple case of removing old and worn out carpets or repainting the walls.

Additions

Our appraisers will definitely take into account any additions that you have incorporated into the house. This may be a deck area, outdoor kitchen, gazebo or swimming pool. If you have made the additions or improvements after purchasing the property, then you will have to let the appraiser know of the particular upgrades that you have done.