Property valuation: How to make sure your home goes on sale at just the right price
- By Bertie Russell
- 27 December 2017
You will know what you paid for your home and should have a good idea of how much you’ve spent on it since. But the roller coaster London property market of the last 10 years makes assessing a suitable asking price a tricky calculation.
It involves not only the state of the market, but also factors including the property’s condition, the level of demand, and – of course – location.
Some vendors instinctively want to try their luck but Peggy Su, regional director of RE/MAX, warns that overvaluing a property is the most common mistake to make and could cost a vendor dear.
“If a home is perceived to be overpriced it will be overlooked by applicants and will sit on the market for longer than necessary,” she warns. “An inflated listing price will also make comparable homes appear to be bargains when actually, they are just priced correctly. Overpricing the property will help to sell your neighbours’ home instead of yours.”
Read the original article in full on the Homes and Property website.