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how to know the true market value?
Comments
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"If you like the house and you have the money you offer what you can afford up to your budget, it is that simple. "
Let me get this straight. I like Mars bars. I have £100 in my pocket, and I can afford to pay £100. So, according to your philosophy, I should offer to pay the shopkeeper £100 for one, "it is that simple", and I definitely don't have to look at what other shops are selling them for, or mull over the benefits of a Twix for 50p instead?
.....And the worst comparison of the week award goes to....Mars Bars have a set RRP, houses don't. You can't make the comparison. In a market where houses don't have an RRP you have to use your judgement on how much you want to pay for them.
OP - Have a look at what has sold in the area that's a similar property and compare the houses. Is the one you're looking at in a better street? Is it better finished inside? Does it have a higher spec kitchen or bathroom than the ones sold? Does it sit in a bigger plot of land.
Ultimately it's what you're willing to pay for it and what the vendors will sell for that dictates the price.0 -
.....And the worst comparison of the week award goes to....Mars Bars have a set RRP, houses don't. You can't make the comparison. In a market where houses don't have an RRP you have to use your judgement on how much you want to pay for them.
OP - Have a look at what has sold in the area that's a similar property and compare the houses. Is the one you're looking at in a better street? Is it better finished inside? Does it have a higher spec kitchen or bathroom than the ones sold? Does it sit in a bigger plot of land.
Ultimately it's what you're willing to pay for it and what the vendors will sell for that dictates the price.
Whether you approved of my analogy or not, you ended up agreeing with the point I was making. You have to make a comparison with what has sold and what's on the market, and it's not simple at all.No reliance should be placed on the above! Absolutely none, do you hear?0 -
basically the 'market price' is whatever the vendor will sell for...0
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