Quick query:
- Property valued at 180k on my street, they listed it for 175k and it sold for that straight away (80m2);
- Another property valued at 230k, they listed it at 195k and it sold straight away for the 195k (99m2).
The guy who owned the 230k property had literally only owned it 3 weeks and hit financial difficulties hence the quick resale and lower value.
Based on the floor area and valuation of these properties a property on my street is worth roughly 2444 per m2, and given the size of my property it should be 195k. However, I got a valuation yesterday of 170k and they’ve said my property is immaculate but its solely down to the guy who sold for 195 that’s driving my property value down.
Does one person who undersells for whatever reason really have that much power to influence property values? Given that last month it was deemed to be worth 35k more than the guy decided to sell for?
Obviously an extreme example but surely if I sold my house for £1 it wouldn’t then mean all other properties in the street are worth next to nothing? Would it?
Should I get a second valuation, or just accept this for what it is?
Submitted May 27, 2019 at 05:42AM by odkfn http://bit.ly/2YUGat1
