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How to buy a house of lower than market value?

We have seen a house, the buyer is asking for £219,000 but the value of that house as per Zoopla is only £200,000. Should we pay more than this or not?

Asked on Sep 10 2010, General in Petersfield | Report content

Answers (2)

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  • The zoopla price is a guide and not 100% accurate as it can't possible take into account the condition of the property. Offer what you feel the property is worth to you, have a look at what has sold and what is for sale and compare them to property in question. Find out how long the property has been on the market, what the interest has been has there been any other offers and what the sellers position is. The keener they are to sell the keener they are to negotiate.

    Answered on Sep 11 2010, Report content
  • Zoopla's estimates are only a guide, they are not always accurate. Some prices are lower, some higher. People can adjust prices by sending their own estimate to Zoopla. Only a professional property valuer can tell you whether a house is correctly priced or not. Doing research of an area yourself, checking sold prices and currant prices of similar properties for sale can help. But ultimately a house is worth what you are willing to pay for it, if that price is too low for the seller, you don't get the house.

    Answered on Sep 11 2010, Report content

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