How do you know what a property is worth?
A property priced offers over £2450000 was bought for £190000 in 05 and it now has a Zoopla value of £170000. This sale price seems ridiculous considering they have not spent this amount of money on the property in this time. Values have gone down not up haven’t they? How come agents price property at this incredible high value when there are larger properties for sale at lower prices? It could be greed on the owner’s part, but if I was interested in the property I would have to offer blow the price which states offers over, which is off-putting. My main question is why is property being valued far beyond what it would have been valued at in 06-07 when we are in a falling market? Nobody wants to be in negative equity, mortgage companies will look at the true value, not a value plucked from a greedy house owner or estate agent. This offers over business is really off-putting.
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