By MARY COSTELLO

July 6, 2010

If you’ve decided to sell your property, it’s important to have an accurate idea of its worth.

The selling price will depend partly on the property itself and partly on the state of the market.

A good real estate agent can give you an idea of what your house will sell for, based on his experience of local sales.

But agents are not qualified valuers, and they have a vested interest in the selling process that won’t always coincide with the best interests of the vendor.

Some agents may over-quote to secure a listing, or under-quote when they see the chance of a quick sale.

Buyers needing an accurate valuation are advised to use a professional property valuer accredited by the Australian Property Institute.

Adam Takacs, a certified practising valuer (CPV), says: ‘‘An estate agent can give an appraisal, but that appraisal can’t be used for anything. A CPV provides a client with an independent, professional, unbiased valuation for a fixed fee.

‘‘You’ll get a written report, including information on recent local sales, giving a valuation of what your property could be sold for in the current market, in a reasonable amount of time.

A fair market value is not a fire-sale price, nor a price where you’d have to hold on for an extended period of time to sell.

‘‘Half of my private clients are separating or divorcing, and they need a sworn valuation to take to court.’’

A valuation prepared by a fully qualified CPV can be submitted to the courts, to government bodies such as the tax office, and to banks and other financial institutions.

The cost of a valuation starts at $440, including GST, for a residential dwelling under $1 million, but will vary depending on the property.