Risks of Overpricing your Property

We all want to achieve the highest price possible for our property, that’s only natural, but it is crucial you choose an agent who has sound, local knowledge and is experienced in selling properties similar to your own.

It certainly would not be wise to choose your estate agent simply because they valued your property the highest.

Overpricing your property could delay your move, costing you time and money. It could also result in you losing your dream home!

Get the price right and you will see the burst of interest that happens when a property first goes onto the market. Offers from prospective buyers will swiftly follow.

Remember:

• Thanks to the internet, it is easier for buyers to become ‘experts’ on the going rate for properties in your area – more than 70% of homebuyers begin their search for a new home on the internet.

• Even if you do find someone prepared to pay an inflated price for your home, their mortgage lender may down value, causing them to renegotiate their offer, or withdraw from the purchase altogether.

• Buyers are likely to notice the amount of time your home has been on the market and may wonder if there is something wrong with it. They may also be inclined to make a lower offer thinking there is nobody else interested.

• Even if you are open to offers, an overpriced property may mean some buyers will not put forward an offer for fear of insulting you.  Others will just sit on the fence and wait for you to reduce your price.

At ROFFEYS Residential Sales we take great care in correctly valuing your home and our experienced property valuers will make sure you get the best price possible within a set timescale. Click to request free valuation.