What works in your favor
- Comparable sales provide a more reliable range than intuition.
- An initial review helps define strategy and expectations.
- A professional appraisal provides a formal opinion when required.
Short answer
Value is analyzed using recent comparable sales, location, condition, active competition and, for income property, revenue and expenses. A licensed appraisal is the proper source for a formal opinion of value.
Where risk appears
- Automated estimates may miss Puerto Rico's local context.
- A neighbor's asking price is not necessarily a completed sale price.
- Every property is different and the market changes.
Common mistakes
- Using an emotional price or only the amount you need to receive.
- Relying on online estimates without adjusting for condition and competition.
- Assuming every improvement adds its full cost to value.
- Ignoring active listings the buyer is comparing against yours.