What is a Property Appraisal?
A property appraisal is a report that comes in handy when you’re preparing to sell your house – it essentially gives you a rough estimate of what it's worth in the current market. Apart from this, a property appraisal will also have vital information like vacancy rates, an overview of suburb trends, and historical market data.
An appraisal is prepared by an agent or real estate professional, and should be used as a guide rather than an actual real estate value.
FAQs about Property Appraisals
The cost of a property appraisal can range from entirely free for a basic pulse check, to between $300 and $600 to hire an independent appraiser.
From real estate agencies to data consultants, there are many sites that offer free online property appraisals. These can be a good source of information when starting your research into property prices. However, hiring a professional appraiser is the way to go if you need to get your hands on more substantial figures and personalised advice.
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Disclaimer: The views, information, or opinions expressed in this blog post are for general information purposes only and should not be relied upon. We have not taken into account specific situations, facts or circumstances, and no part of this blog post constitutes personal financial, legal, or tax advice to you. You should seek tax advice from your accountant, specific to your situation.