Do you want to purchase property as an investment or buy and sell a house? Before doing any of that, you must obtain a property report, a document containing its estimated market value, liens, mortgages, sales history, unpaid taxes, issues facing the property, and other related information. However, having a report prepared by an advocate could cost you between 300 AUD$ and 600 AUD$, besides the extra charges by the valuers. You could avoid incurring those expenses by opting for a free property report by a trusted mortgage broker who will do the proper valuation and ensure you make a sound investment. What are some things you must know about it? Read on to know.
What is a property report?
As mentioned earlier, a property report provides you with all the essential information regarding a particular house. It will help you check the number of times the house was sold in the past and at what price, giving you an idea of its appreciation. You will also be able to determine if its current price is reasonable or not after taking into account the recent housing market performance. The document will include, besides other things, detailed images of the interiors along with the necessary records. After carefully scrutinising the documents, pictures and overall value, you can make an informed decision. For instance, if someone has sold a house several times in the past, you could find out the reason behind that and even bring down your purchasing price.
What does it usually contain?
The specific information contained in a report will vary from one value to another. Still, the document will usually have details such as the property details, including the property’s address, number of bathrooms and bedrooms, images of its interiors and exteriors, total size, garden, balcony and other features. It will also contain the land size in square feet, comparable sales, estimated value, and vacancy rates which you will find helpful while investing.
How can you get a free property report?
The concept of getting a free property report is excellent in terms of convenience and time savings. Instead of planning a date for an inspection by the valuer and waiting for two to three days to get the valuation report, you can search for a reliable mortgage broker who will quickly deal with the entire process. They will ask you for your name, address, email, phone number, and why you want a free report. Their valuation estimate is accurate and gives you a clear understanding of the price ranges in your area.
How does online property valuation work?
Most mortgage brokers offering online property valuation work with the help of an algorithm mechanism to understand the present value. Instead of physically visiting each house, they might get an estimate by researching the comparative data or contacting various business intelligence specialists.
Why is it called a free property report?
It is called a free property report because you will not be paying the usual prices you usually would while avoiding the expenses involved in a physical inspection by a valuer and the associated legalities. You need to provide some information and get a report instantly, making the entire process convenient, accurate, and fast.
Getting a free property report will enable you to make wise decisions before buying, selling, or investing in any property. Knowing its past sales history and other related details to determine its final worth is of the utmost importance.