All of us have a certain figure in mind regarding the value of our personal property in the market. But most of us have a tendency to over estimate the property’s worth and thus we end up facing disappointment when the buyer and his agent want to make a deal with us which is usually at a lesser price than the one we imagined. Our private property involves vehicles, furniture, jewelry and houses and we often need to find a good conveyancing solicitor online especially when it comes to our houses. The following guide will come in handy when and if you need a proper assessment of your private property.
When it comes to houses there are three distinct types of valuation. One is the market value, in other words the value which someone is prepared to pay after a rigid marketing campaign. The second is the bank’s own estimate and the third is the price assigned by the valuer. Among these the only value that you need to pay attention to is the market value because the eager buyer will be willing to purchase your house based on that.
You could get a rough quotation for your house by consulting a real estate agent or find a good conveyancing solicitor online. You could also attend auctions or open for inspections. You need to be honest about the pros and cons of your property. For example if you lack a garage or a guest room, then you shouldn’t expect an exorbitant price from the purchaser. On the other hand if you have something unique, let’s say an open terrace or a front porch then its fair of you to anticipate a higher price.
Be it a car, truck or bike the age and state of the vehicle needs to be considered while putting a value to it. You need to be informed about the details like the mileage, the model number, the year it was built so that you can come up with an exact rate. In case you possess an older vehicle, chances are that the trade publications will be not of much help. You could search newspaper ads or online sites and see the price at which other similar vehicles are being sold. Another option is to get it appraised. But be careful while doing that because if you ever go bankrupt the court may be apprehensive about the appraisal if you get it from someone you know very well. The best recourse here would be to get an appraisal done by a professional.
Visits to thrift stores such as Goodwill or local flea markets will help you to come up with a rough estimate of your household goods like furniture, electronic appliances. A garage sale will also help you to understand the current rate at which household stuff are being sold. You can also search auction sites both online and offline.
Jewelry and Collectibles
Appraisal is the best way to assess the worth of jewelry and other collectibles. You should be clear with the appraiser about your wants. Tell him directly that your focus is on current sale value appraisal and not on insurance appraisal. Most people go to pawn shops for appraisal but before you do the same, keep in mind that they are notorious for undervaluing property and may not be always the best place to get an appraisal. You could go to a credible dealer and get your appraisal done.