Major inconsistent property valuations

coffee_king

Hey all
I'm looking to sell up and so have had my property valued by 4 or 5 estate agents so far and I'm getting some major inconsistent property valuations. Its all over the shop. The lowest is 155k, the highest is 225k! Thats 70k difference!

How do you know how much to put your home up for sale for in this crazy market? I don't want to go in too low, but I don't want to go in too high either. Apartment prices look to be on the up here in central Birmingham, but still.......crazy inconsistencies!

Any help?

thanks
coffee_king

Fire_Fox

Research land registry sold prices https://www.houseprices.co.uk

coffee_king

yeah, I've looked, its not much help. Nothing for the last few years really.

Fire_Fox

coffee_king wrote: »

yeah, I've looked, its not much help. Nothing for the last few years really.

Don't be silly! If you cannot find anything in your block, find apartments that have sold in adjacent blocks or adjacent streets. Try to use blocks that you know have similar characteristics to your own in terms of age, quality of fittings, services, desirability etc.

poppysarah

If it's too low you'll have interest and people might bid the price up. Maybe.

googler

Fire_Fox wrote: »

Don't be silly! If you cannot find anything in your block, find apartments that have sold in adjacent blocks or adjacent streets. Try to use blocks that you know have similar characteristics to your own in terms of age, quality of fittings, services, desirability etc.

Absolutely. There MUST be something similar that has sold in your immediate area recently.

Look at sold prices for your postcode on zoopla or ourproperty or myhouseprice, etc

Fire_Fox

googler wrote: »

Absolutely. There MUST be something similar that has sold in your immediate area recently.

Look at sold prices for your postcode on zoopla or ourproperty or myhouseprice, etc

... but don't use Zoopla valuations. My flat is apparently worth tens of thousands above the 2007 ceiling price for the block. :rotfl:

googler

Fire_Fox wrote: »

... but don't use Zoopla valuations. My flat is apparently worth tens of thousands above the 2007 ceiling price for the block. :rotfl:

Yes, the actual SALE prices on Zoopla, not their estimates or valuations.

Henry_P_Chester

I agree with the last too, Zoopla valuations are hopelessly high!

Doozergirl

You'll have to trawl through rightmove looking for stuff that is under offer as well. Last year I bought a repossession and sold it on again in Birmingham.

Asking prices and the prices that apartments sell for do vary all over the place and it ultimately boils down to how desired your particular block and location is and that too can vary wildy from places even within a small part of Birmingham City Centre.

Choose an agent that is actually selling stuff around you. £225k would make it a very nice, spacious apartment in a good block in a good area in the centre of town. Last year it was easy to pick up a 2 bed for £100k.

The amount you pay in service charge will have a lot of bearing on whatou eventually sell for.

ILW

£225,000 for a flat in Birmingham?
Crikey.