Estimating the value of an apartment
Determining the value of an property is more complicated than it can seem at first sight. It does not just consist in multiplying the average square meter price of the valley to the surface of the property.
Not only do you have to determine the differences between the properties that were sold recently and the one to evaluate, but the positive aspects have to be considered, just like the negative ones, and they have to be weighted according to the importance each one will have for most buyers to find the right price. Last but not least, the market trends have to be looked at to fine-tune the final price.
VISITING THE APARTMENT, A moment OF IMPORTANCE
An apartment cannot be estimated properly without a visit on the spot. Besides the technical elements (floor, surface etc.), it is essential to visit the property to better grasp the lay-out of the rooms, to picture and sense the space, its brightness, to feel the atmosphere and be able to observe the details that do not stand out on the paper.
This visit can be undertaken with the owner, so that he can give a maximum of information to the agent, but can also be arranged when the owner is away.
Visiting the property is essential for the agent to prepare the valuation of the apartment in Meribel.
But other elements allow the agent to have a clearer picture of the property and fine-tune its valuation.
THE USEFUL DOCUMENTS TO VALUE THE APARTMENT
If there are officially no documents required to value a property in Meribel, some elements may be useful to the agent to establish the price.
The ownership document proves the ownership of a property and is provided by the notaire after the passing of the sale. It gives useful information such as the possible easements the property is subject to, the coproperty itself, and what are the additional units sold along with the property (cellar, ski lockers etc.)
The summary of coproperty charges gives an information of the cost related to the property and its annexes. It also helps to understand what cost are covered by the charges (heating, water etc.) and which ones are not.
The coproperty log book can also be a useful document as it sums up the works that have already been carried out in the coproperty. This document is in general available from the syndic's intranet but, at Agence Saulire, we know very well most of the coproperty of Meribel MOttaret and thus do not usually need it.
The surveys of the technical folder: usually, the surveys are carried out when the apartment is put out for sale. But if the owner already has already made the surveys, they will be really useful as they shed some light on the property's condition in terms of surface, asbestos, electricity etc.
Once he has had a look at those documents, the estate agent can start to determine the price.
THE VALUATION
After checking the selling prices of similar apartments sold in Meribel, the Agent has to weight each element to adjust the price to the finest.
The elements which add the most value to the apartment are a high floor (when a lift is present in the residence), a great view of the mountains, a south or west-facing exposition, and, most importantly in a ski resort environment, the proximity to the slopes and shops.
Finally, the price has to be adjusted according to the current demand, which can change at any time.
At Agence Saulire, we draft a document with all the information used to determine the price of the property:characteristics of the property, selling prices used (that can be checked online), the positive and negative aspects, but also the market trends that can affect the price. You can thus obtain a valuation which is clear, based on actually selling prices (that can be checked), a document that makes sense.
Prove of our effectiveness: over our last 12 sales, the average difference between the estimated price and actual selling price was only 1%!
So do not hesitate to trust Agence Saulire for the valuation of your apartment in Meribel!
