I feel our property has been under valued

spencerb

Hi, please could somebody offer some advice on our property which we have just put on the market.
We have a unique property in which the several estate agents that came round to value it, had a difficult time saying it isn't a property that is comparable to others in the area.
We had several different valuations,70,000 difference. In the end one estate agent came up and gave us a mean average of all valuations and that is what we have marketed our property at.
Our property has been up for sale for just over a week, we have had 8 viewings with an offer for the full asking price and 3 more viewings tomorrow. Do you think this amount of viewings and an offer for full asking price at such speed is normal? Also, all viewers have left positive feedback, not one saying it's too much money.
We have signed a contract with the estate agent for 12 weeks. Could we go to the estate agent and ask if we could up the asking price? Really not sure what to do..... my gut feeling is the house is under valued. What would you do? Thanks for reading if you got this far.

Zammo

If you think it has been undervalued then get the EA to remarket it at a higher price. There's really no other option if you want peace of mind.

Carnifex

You could try

www.ourproperty.co.uk

see what others properties in your road have sold for.

david29dpo

please bear in mind that some agents have a " ready,willing and able" clause in there small print. if the agent has found this buyer willing to pay the asking price and you then turn it down, you may be liable for the fees.

spencerb

Thanks for replying. It's no good searching for property that has sold in our road because as I said our house is unique to all the properties, this is why the valuations have all been mixed. The asking offer that we have had is from a viewer who is not proceedable, he needs to sell his property.

david29dpo

check your contract with the agent about above.

pawpurrs

Can you post a link? Are properties generally selling fast in your area? If you are in no rush then you could try increasing the price, theres nothing to stop you doing that ignore clause, the buyer isnt even procedable. You may find viewings dry up if you pitch too high.

spencerb

The properties in our road tend to get snapped up pretty quickly as they don't come on the market very often. I think I am going to phone EA as soon as they open and say we want to pitch our property at a higher price as we aren't in any hurry to move.

PoorDave

You could get the EA to contact the person who made the current offer at the AP, to give them first refusal at the higher price. They might still want it enough to match your new price straight away, saving you having more viewings.

Have you actually accepted the offer?

cuffie

Hopefully you will get a few offers and they will nudge each other up...its not unheard of for properties to go over the asking price. Its a difficult one. We had 8 viewings in 1 week and a few 2nd viewings, but only one offer. You never know - others may not put in offers and then you have lost out on this one. Like post above - maybe speak to EA, maybe they can mention to the ones who made the offer that you are taking other viewings as they feel the property may go over the asking price. You might get a higher offer from them if they really want it. Good luck. x

Careful_girl

I thought our property was undervalued but I am glad the agent marketed it as they did. They did call it a guide price though. we had 3 buyers willing to pay the price and managed to get the price pushed up a further £10k.We stopped there as we had a cash buyer and we wanted a quick sale. We were very happy as the house went at an appropriate price and the chin was easy. So might not be a bad thing. Look at how successfull the EA has been with other properties perhaps to work out how knowlegeable they are and the prices they get for their vendors.
good Lock,
CG.