Molly Grace5-Minute Read
UPDATED: April 03, 2023
Whether you’re buying or selling a home, chances are you’ll want as much information as possible before closing the deal. The property report does just that. As an important part of the home selling process, this document provides critical information for a home’s buyer, seller, real estate agent, lenders and anyone else involved in the process.
A property report provides a detailed and customized report on a property’s historical data and current conditions. This in-depth profile is an important document for homeowners, buyers, sellers and real estate professionals to understand a home or property’s history.
A property report reimagines how you can learn about your home value. It uses real-time and historical data to give you a clear picture of what housing market conditions are currently like in your area, how much homes like yours are selling for and how much you could reasonably expect your home to sell for if you were to list it today.
Additionally, all of this information can help you determine the best time to sell a house in your area. With this information, you can maximize the amount you can get for your house.
Whether you’re buying a home, selling a home, or are a real estate agent helping your clients to buy or sell their homes, more information is always better. Here are some specific benefits a property report can provide and why everyone involved in the home buying and selling process might want one:
Real estate agents often put together property reports when preparing to list a home for sale. They use a combination of private and public records and compile all the information both the buyer and seller could need. These reports – or portions of them – may even be included in real estate listings.
You can also get property reports from third parties. For example, a Rocket Homes℠ Property Report can tell you as a homeowner how much your home is likely worth and the estimated best time to sell it.
Property reports provide critical information about a home to both the buyer and the seller. Property reports, which are often compiled by a real estate agent, share basic information about a property.
As a seller, a property report may not be entirely accurate if there aren’t any good comparable sales. And as a buyer, a property report may not show all potential problems within a home, especially if a seller doesn’t know about them.
There are several ways to find the current value of your home. You can use an online valuation tool and research comparable homes in your area. For a more accurate valuation, contact a real estate agent or appraiser for a professional opinion.
A home inspection is when a professional inspects a home to see what condition it's in. An inspector looks at everything from the roof to the foundation. They provide this information to the buyer. A home appraisal is a means of determining the value of a home and is usually done to help the bank determine how much it's willing to loan a buyer. A property report provides buyers and sellers a snapshot of the home’s property details, estimated value, sales history and land size.
Whether you’re buying or selling a home, knowledge is power. As a homeowner, a property report can give you all the information you need about getting the most money from your home. And even if you aren’t planning to sell, a property report can be useful just for yourself.
If you’re planning to put your home on the market, connect with a real estate agent today to get a property report and start preparing to get the best deal possible.
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