December 13, 2019

Assessing the Market Value of a Property

Assessing the market value of a property is an important and complex step. To determine a property's fair price, work with a real estate broker

What is market value?

A property's market value is the price a property would most likely fetch on an open and competitive market. It takes into account various elements such as:

  • Location and neighbourhood;
  • Comparable properties that were sold;
  • Property type (condo, plex, single-family home);
  • Year of construction, renovations that were carried out;
  • Surface area of the house and land;
  • Extras: pool, garage, private backyard, etc.
Ask a real estate broker for help

Real estate brokers can perform a thorough comparative market analysis thanks to their access to similar properties that sold in your area. They are also well placed to effectively assess the impact of certain renovation work on the value of your property.

Find the real estate broker who will accompany you during each step of your transaction.

How much do you know about real estate? Take this quiz!

See also:

What to check before buying a condominium

A real estate broker’s duties and obligations

All about the promise to purchase

 

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