Investing can be an overwhelming process, there is a lot of information out there and how do you decipher what is speculation and what is actually happening in the market? That is why the first step in any successful real estate transaction is consulting. You need a professional to guide you with the transaction and looking out for your best interest and fiduciary responsibility. A competent broker will know what questions to ask the other party in order to determine if the outcome will be a successful transaction or a lengthy expensive waste of time.
If you are an owner with an investment property for sale and would like to know what your property is worth you can search online and most of the time can get a non-factual idea. If you are a savvy owner, you hire a professional to give you expert advise. Property valuation is not just about how much your property is worth now, but what is the highest and best use of the property, what zoning laws benefit or are contra productive, and what is being built around you, to name a few. There are so many other variables that will directly impact your real estate property’s value and that you must understand before engaging in the sale of your property.
Are you looking to invest in a new market? How do you determine what investment is best for you? How risk-adverse are you? Do you prefer a property that needs work or one that is already stabilized and producing income? Are you prepared to go through an approval process or is buying entitled land more attractive to you? These are all questions that you need to answered along with many more before you can move forward with any type of deal.