Some agents may take less time than others when valuing your home, but at Redwell Estates here is what you can expect. Quite often our Managing Director Patrick Stappleton will come to meet you personally at your property at a time that suits your needs. Patrick Stappleton has experience covering three decades of valuing property in the East Sussex area.
Appointments at your home will typically take an hour, which will include a full visual inspection of your house, bungalow or flat. During this time he will take measurements, discuss your own property needs, explain the current market situation and discuss similar properties within the area that are your main competition and make a good match to your own. This will help him advise you on the potential value of your property, and anything that you can do that will enhance its saleability, and provide recommendations for an individual marketing strategy that will help sell your home for the best price in the shortest space of time. Here are some things to watch out for on a valuation:
Here are some things to watch out for on a valuation
They should know what other properties in the area are currently in competition with your home, what prices properties in the area have recently achieved once sold and provide documented evidence to support his valuation.
Unfortunately some Estate Agents will quote an inflated asking price to impress you and win the instruction. But even if you actually manage to sell your home for that inflated price, you also have to prove to a mortgage lender that your property is actually worth that price, or your home is in danger of being down valued.
Even cash buyers who have surveys carried out by a professional surveyor will be advised as to whether the price being paid is good for the property. If your property is down valued, your buyer could lose the financing for the full purchase price, forcing you to either find a new buyer or negotiate a lower sale price. Both situations mean that you will have to adjust your own budget for your onward move. It is best to have an agent who can provide you with evidence of how your property should be priced at the outset as they can then use those same “comparable” properties to back up the sale price when the mortgage lender has the property valued as part of the mortgage valuation. Choosing an agent based on the higher unsubstantiated valuation or lowest fee is not usually the best criteria. Statistically a property has the best chance of selling within the first six weeks of going on the market, so accurate pricing from the outset is essential.
It may sound a bit fluffy, but did you feel comfortable with the Agent? Did they allow you to ask all the questions? Did they seem to listen to you and want to understand your priorities or just talk about themselves? When it comes right down to it, if an estate agent does not seem to understand what is important to you, perhaps they are not the right agent for you.