Getting a Home Loan in Australia if you're living overs...
29 Nov 2023
If you’re thinking about buying or selling real estate, a property information report is a valuable tool to keep in your arsenal. Learn about property reports and how you can use them to your advantage.
A property report details the property’s estimated value and previous sales history. It also includes information about the suburb or the immediate area. These reports are typically used by buyers and investors to research potential properties. Sellers also utilise property reports to guide their sale strategies and make their property more competitive on the market.
Property reports may have varying information depending on the provider, but you can expect to see:
Using the data above, you’ll be able to gauge the market and see if the property you’re buying or selling will be a worthwhile investment.
With a property report, you’ll have a better understanding of the local real estate market. Real estate is an extremely localised sector where each suburb has its own market trends. Sellers and investors can create better business strategies while buyers can negotiate for better prices. You'll be able to gain valuable insight whether you’re buying, selling, or investing.
A property report also provides you with the information you need all in one place. No need to scour the countless data, graphs, and news sources to find what you’re looking for.
Use your property report to your advantage. Here’s what you can do with a property report:
As you can see, a property report puts you in a strong position as a buyer, seller, or investor. You’ll have most of what you’ll need to make the most out of your real estate experience.
Property reports are incredibly useful for guiding buyers, sellers, and investors through their purchase or sale. However, these reports are primarily based on past sales which may not reflect the current situation of the suburb.
Using property reports as your only source of information may not be advisable. Always check the property report’s sources and see if they’re up to date. Factor in recent market changes and local real estate trends to get a more precise picture.
Prices on a property report should not be taken as a guarantee by both buyer and seller. Buyers may see higher prices if the demand for properties goes up in the area. Take note, the property report should not be taken as an official valuation of the property. If you’re a seller, you may still need to have to get a professional valuation to get an accurate price.
You can get a free property report online! At loans.com.au, we provide free property reports powered by CoreLogic to help you make a fully informed decision before buying real estate. For more information, you can talk to one of our friendly lending specialists at 13 10 90 or use the Live Chat.
As Australia's leading online lender, loans.com.au has been helping people into their dream homes and cars for more than 10 years. Our content is written and reviewed by experienced financial experts. The information we provide is general in nature and does not take into account your personal objectives or needs. If you'd like to chat to one of our lending specialists about a home or car loan, contact us on Live Chat or by calling 13 10 90.