The Real Estate Market Study is essential for determining the market value of the property, i.e. the value of the transaction between a buyer and a seller.
The market study helps both parties to be aware of all the most important developments without worrying about pressure or unequal circumstances.
Using a comparative method is the most common in these studies, taking advantage of the principle of substitution, in other words when a buyer is informed they don't appear to be inclined to pay a higher price for a house compared to a similar one.
Gathering as much information as possible about property market data or recent transactions in the area where the property to be valued is located is part of the valuation process in order to determine the similarities between properties. By using the Market Comparison Method, it is possible to estimate the amount of real estate assets, this method helps to find the fundamental point when analysing similar property transactions.
By carrying out a more extensive analysis of transactions, you arrive at an estimate of what the current market trends are and also gather together all the characteristics of the property, which will determine the contribution to the final value that should be reflected fairly and thoughtfully.
When you want to sell a property, the value stipulated for the sale of a property must correspond to the following criteria:
-Type of property and its area;
-Specific features of the property;
-State of repair;
-Transactions, values and time on the market of comparable properties;
-Location of the property and its surroundings.
The market offer is quite extensive, with a variety and individuality of proposals that does not make it easy to stipulate a price list.