Be realistic about the price your property will fetch to strike a deal

Posted under Advice by Michael

Property market specialists underline the fact that investors need to be realistic and practical about what their properties are worth in context of the prevailing market conditions. The key is to be realistic about the price your property will fetch to strike a deal.

Mortgage strategists advise sellers to bear in mind the fact that they also would most likely be buying at a lower price. One of them adds: “If your buyer is looking to knock say £10,000 off the asking price, demand a reduction further up the chain.” More than this, the key is to set the proper asking price.

Property market experts caution that too high (a price that you set) and it will only deter would-be buyers, making your task that much difficult. On the other hand, too low a price and you will end up getting much less than you could have easily received. To avoid this, try to obtain three or four different valuations, which can easily be done online. Importantly, avoid being ‘sucked in’ by the highest valuation.