The benefits of an independent property valuation
Discussion on strategies for buyers and sellers to improve confidence as to pricing.
For property types that are not in high demand, a seller who hopes for a quick sale or wants to compete for auction buyers will need to start at an extremely attractive price level. The point of the auction is to attract bidders, and the bidding process will bring the best possible price based on the bidders’ enthusiasm to buy that property at a particular auction.
The sales result of the auction can be considered close to the actual market price for a sale on the shorter timeline created by an auction.
Sellers often feel challenged in determining an attractive reserve price, and one popular but simple formula is to set a price that is 30% below the market price. This amount has a likely chance of attracting attention, and that attention will empower the bidding process.
The big question, of course, is “what is the market price?”. Obviously, recent transactions in the area, location, condition, and many other factors will affect the perceived value. While a seller can guess some aspects, basic research by professional valuers can assemble the data and offer several methods to determine pricing.
Auction.co.th has teamed up with a respected third-party valuer certified by the Bank of Thailand to prepare valuations for bank loans and other commercial purposes.
Sellers can order a property valuation report to provide a comfort level in preparing to go to auction. Equally important, if made available in the property offering, such a report enables interested buyers to understand that the reserve price is realistically discounted, thus allowing them to bid up the price confidently.
In summary, a professional valuation report will allow sellers the confidence to decide on a reserve price that will attract as many viewers, and thus bidders, as possible. See below for further details on pricing and ordering these reports.
Property Valuation Benefits at a glance
An independent property valuation has clear benefits for buyers and sellers.
The cost of an independent property valuation
Independently valued properties generate more interest from buyers
The independent property valuator is approved by the Stock Exchange of Thailand and the Bank of Thailand who mandates that Thai banks seek certified valuations from values approved valuation first.
Below you can fill out our user-friendly form to start the valuation process. By submitting this form, you consent for us to contact you regarding the process and to set a time for the valuers to inspect your property, and unless you request otherwise, to post the valuation on our website to allow buyers to understand the value for bidding better.
Thai Language Report
Price on request.
Dual Language Report
Price on request.
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