Surveys and Risk of Devaluation

ironlady2022

Hi, 

Struggling to see what price I should start selling my house at. Or how to market it, either, offers over to start a mini bidding war, or £299,995 fixed/guide price which is on the high end but £300k is what I want. I believe the end result could be the same. 

Valuations 
Estate Agent 1 - offers over £280k
Estate Agent 2 - £285k-£295k
Estate Agent 3 - £290k-£300k

Estate Agent no 3 sold the exact same house type (semi, mine is terraced) in June last year. It went on for offers over £280k and it closed at £287,500. My issue is, the land registry is that behind that this has not been registered yet so any survey done won't have this in mind. These have advised a 10% increase in market hence the valuation. 

There's a 4storey, 4 bed which went on for offers over £275k, and they got an offer for £285k, survey come back at £280k. In terms of sq footage, this is bigger than my house, but my property is a nicer layout, 3storey, 4 bed. Estate Agent 1 (my fav) does not believe this, whereas Estate Agent 2 has the same thoughts as mine, hence higher valuation. There's only 7 of my house type on the estate, it's 1mile from a major city centre and walkable, so the area is very sought after. 

I would like to move house and be in by Jan 2023 to be in catchment area to apply for schools. If it doesn't happen, worst case scenario, my Daughter will move school (ex might have something to say). I'm actively looking for my next home and want to be in a position to pounce. So if my Buyer's survey comes back less than £300k (if I manage to sell at this), then Buyer will negotiate with me or I decline and we are back to square one and having to find another Buyer, putting back my timeline.

I'm leaving towards Estate Agent 2 but struggling with the price and marketing strategy. This is my first time selling a house. 

lookstraightahead

If you want a mini bidding war expect the true valuation to be less than what you're offered.

Doozergirl

If you want £300k, I doubt you're going to find it by doing an offers over.  Houses find their price, it seems that your valuation is already higher than pretty much any of the agents.   'Offers over' is really for when you're quite relaxed about letting the market find its level.  It doesn't sound like you are.  

Stick it on at £300k and see what happens. If it's worth it, you'll achieve it.  

Thrugelmir

EA’s will be aware of recent sale prices. This forms the basis of their opinion. Little point in overpricing your property. Then calling it a down valuation. The Ea’s you’ve contacted don’t appear to share your optimism for £300k. You might need to rethink your plans or at least adjust your expectations. 

ironlady2022

Thrugelmir said:

EA’s will be aware of recent sale prices. This forms the basis of their opinion. Little point in overpricing your property. Then calling it a down valuation. The Ea’s you’ve contacted don’t appear to share your optimism for £300k. You might need to rethink your plans or at least adjust your expectations. 

That's the thing, the EA don't know unless they actually sold it and rely on the land registry being updated which I know they are really behind.

EA1 doesn't share my enthusiasm but they are also second most exp.

I'm willing to let it go for £295k, £300k is a bonus.