Received offers but worried house has been undervalued

surreybased

Hi,

Good for you - seems a sensible approach. I'm actually impressed that the EA has rejected sealed bids. As a cash buyer with no chain we walk away when this is proposed. Some buyers seem to forget the benefits of a straightforward transaction, pop along to the selling thread to see the stress caused by chains, or and also sales that don't complete.

Emy1501

A house is worth what someone is willing to pay for it. I get the impression that the EA is looking for an easy fee. When I sold I assumed the property would be worth no more than 250K because of the stamp duty. EA advised no and put it up for 270K and thats what it sold for.

5 asking price offers in a week suggests to me that your property is being sold on the cheap. Of course if you re-market it now at say 270K you may put off the 5 people that offered etc.

You should always get a number of agents in to value a house before deciding what price to put it on for and when they ask what you think its worth simply say you don't know.

timmyt

you chose the wrong estate agent. and it is under priced.

ditch the agent is they are a national /chain.

get with a local indepedent and your problem will be sorted.

[Deleted User]

We did shop around and other agents valued it at a similar level, but again, after they had asked my OH what she wanted to for it.

We've decided to accept the FTB's offer anyway as it enables us to carry enough deposit across to the new property and means we have a very short chain in the whole process (no onward chain from the people we're offering to).