• Finding the true value of a propertyproperty image by Philip Date from Fotolia.com
  
  Buying or selling property can be a smart move in almost any economy; however, it's important to do your homework. The key basis to any successful real estate transaction is to ensure that you have an accurate estimate of the value of the property.
  
  

Personal Inspection Checklist

• A checklist that includes the number of rooms, their amenities and condition is a useful tool. It enables you to make note of any damage that you see. It's also helpful in determining what upgrades or additions you might want to make.
  
  

Hire an Appraiser

• The service of a licensed appraiser is one of the most valuable tools in the real estate industry. An appraiser places a dollar value on a property based on the dimensions of the property, the number of rooms and the overall condition of permanent fixtures and real property.
  
  

Online Valuation Tools

• Use the Internet to find out how similar properties in the area have been valued. There are a number of valuation tools on the Internet that will allow you to research other houses for sale in the neighborhood. You can also find the sale price of properties that have recently sold (see Resources).
  
  

The Help of a Licensed Inspector

• Hiring a licensed appraiser will save you time and money. An inspector's report should be unbiased and cover the condition of the heating and cooling systems, windows, structural issues in crawl spaces, asbestos and other things not visible to the untrained eye.