A Valuation Report is used for several things:
- Selling your house. A Value estimate is one piece of the puzzle to use in pricing your home for sale.
- Calculating home equity. A Value estimate can help you see roughly what the appreciation of your property has added to your bottom line.
- Timing a home-equity loan. To find out if you have enough equity to make it worthwhile asking for a loan.
- Buying a house. Negotiating power, knowing how much a property is worth before you put in a bid. A Value estimate also give you an idea of local property values by letting you see what other homes in the area have sold for.