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jdpwest_uk | Estate agents cant value my property? |
My mum and dad have a unique house and the local estate agents have no idea of price.
It's a very nice house and different to any in the town they live and so is more likely to sell better from someone outside of their town than a local.
They have had prices from 200K to 300K at the moment but I'm not sure they know what they are doing.
They live in Hampshire in the Uk.
Does anyone have any ideas of what they could do |
 |
 
Graham I
 |
The problem is that most valuations are done by comparing similar properties. If there are no similar properties in the area, then it becomes very different. It could be that the uniqueness makes it worth much more than the other houses, but there is also the danger that nobody is actually looking for a house of that type, and therefore it is worth the same or less than the surrounding houses because it's harder to sell.
For example, if your house had 10 bedrooms and a swimming pool, but was surrounded by 3-bed semis, it would not have the same value as if it was in the middle of the countryside.
Try to find pricing for a similar house even in a different area, and then adjust for average prices in the two areas. If it's really so unique that this isn't possible then I'd follow the advice already given of starting near the top end of the range and seeing how it goes. |
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zippybits2
|
A house is worth what ever anyone is prepared to pay for it |
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BRIAN S
|
If you wish to do some work, get details of similar sized properties in your area. Work out the internal floor areas and divide the sale prices by the floor areas. This will give you a range of costs per square metre.
Then work out your parents' floor area and multiply that by the average costs per square metre. This will give you an indication of the accuracy of the valuations.
Also, go onto www.thisishouseprices.co.uk and search on the post code.
ps try houseprices.co.uk - better records |
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Sarah H
|
Get them to speak to a number of agents. There's no reason they cant value it, unless it is not worth valuing due to extremely poor condition, which I doubt! |
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beverley.newman1@btinternet.com
|
An auction sounds as if this may give the best return.Set the reserve at a figure they would be happy with receiving for their home and see what happens.However if it sells they would have to be prepared to move out fairly quickly.. |
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David
 |
There are lots of one-off homes in the UK.
An oft-used agents trick is now to offer properties with a 'Guide Price of £....'
Try this and see what the response is. You will never know until you get feedback from real buyers so feet through the door is the name of the game. If you set the guide too low then the market (buyers) will set the true price anyway. In todays buying frenzy, top properties in top areas can fly way above the guide price.
Hometrack, UpMyStreet and Land Registry offer price sales info for houses sold in your area. At least this will give you a flavour of what is going on.
If you don't want to commit to an agent have a look at a free site, http://www.tickeverybox.com where you can advertise and sell for free - no commission and no fees! |
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adrianjdthomas
|
Try a different agent, or search online for similar property types to get a rough estimate then work from there. |
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BTB
|
Personally I would put the hosue on the market at £300k and see what happens. If there is huge interest go to sealed bids.
If not, lower the price.
Good luck
BTB |
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silly gorbie
 |
pick a price in the middle.....if the house is worth more then someone will offer a higher amount. If it is worth less then no one will make an offer at all. Houses have a way of finding their own price regardless of what estate agents might tell you. |
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jamand
|
It is because it is unique that they are having trouble valuing it - this is not uncommon and is due to the fact that Estate Agents nowadays have no clue to value - this is purely down to the fact that all houses in an area have a 'general' value put on them - any modificatons or extensions are rarely taken into account in the overall value.
As it is unique and if they want to sell - they should take the highest valuation and allow for compromise on price. If it is truly a unique property - the high price will not put someone of paying top rate.
Get ALL the local estate agents to value it and go from there - if you are still not convinced then use Independant Estate Agents - they usually have a higher commission fee but are more free ranging and have more insider knowledge. |
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