Working out what it is worth
The bottom line
The CV is not the value. Recent comparable sales are.
Council valuations are set for rates, not for buying. Online estimates are averages. The only reliable guide to what a property is worth is what similar properties nearby actually sold for in the last few months, adjusted for the differences you can see.
The worksheet in this lesson walks you through three comparable sales and gives you a range to set your ceiling from.
Read this
How first home buyers should assess a property's value
Do this
Complete the comparable sales worksheet for one property
Check yourself
What is a council valuation for?
Setting rates, not market value.
What is the best guide to market value?
Recent sales of comparable properties nearby.
How many comparable sales does the worksheet use?
Three.
Talk it through
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