Has the estate agent undervalued our house?!

TuppenceWorth

So...
A house is worth what someone else is prepared to pay for it.
If you get several offers at asking price quickly, then there is a chance it is undervalued. In that case, going to best and final offers would be an option.

In your case the EA position is unclear. You need to be confident that they will pass on offers and not reject offers on your behalf after the first offer. ie you don't want them being underhand just to hasten a sale. If a quick offer is received, you can say that you are still waiting x number of days/weeks before taking off the market and making a decision.
This approach might put off a serious buyer though who has offered close to asking, so I guess you do want to market at the right price.

I would second getting an independent EA to value it.
There is a lot of money at stake, so worth careful consideration.

Jane_B

Are you selling through the developer? as having to sell in 6 weeks makes me think so. If that's the case they will always value lower as a 'guaranteed sale in 6 weeks' price.

Just because your neighbor sold in a short period of time doesn't mean thats average in your area, which is what they will base this on

Crashy_Time

lookstraightahead wrote: »

House prices fluctuate based on all kinds of things. The market in many areas has changed over the past week, let alone few months. House prices don't just go up. Especially if you want to sell in six weeks, I wound say with Christmas looming that's nearly impossible.

That will probably be news to many people unfortunately