{"id":3016,"date":"2023-05-08T11:00:21","date_gmt":"2023-05-08T10:00:21","guid":{"rendered":"https:\/\/www.craneandco.co.uk\/pages\/?p=3016"},"modified":"2023-05-08T11:00:21","modified_gmt":"2023-05-08T10:00:21","slug":"have-you-fallen-for-an-overvaluation-heres-why-it-could-delay-your-property-sale","status":"publish","type":"post","link":"https:\/\/www.craneandco.co.uk\/pages\/have-you-fallen-for-an-overvaluation-heres-why-it-could-delay-your-property-sale\/","title":{"rendered":"Have You Fallen for an Overvaluation? Here\u2019s Why It Could Delay Your Property Sale"},"content":{"rendered":"

When you\u2019re selling a property, getting a valuation is the first step. You need to know what a home is worth before you can plan your next move, but what if the value you\u2019re given is completely inaccurate?<\/span><\/h3>\n

If your property has been intentionally overvalued (priced more than it\u2019s worth), it\u2019s probably down to the agent hoping to win your business and bag more commission once sold. Of course, if the overvaluation was what the agent genuinely believed it to be worth, ultimately, the price might have to be reduced for sale.<\/p>\n

Whatever the reason, time and time again, properties are put on the market at an over-inflated price. Sellers are forced to lower the asking price or have to accept a much lower offer. So, why do people still fall for overvaluations?<\/p>\n

Flattery<\/strong><\/span><\/h3>\n

Of course, it feels great to think your home is worth a huge amount. All the years you\u2019ve spent living there, making improvements \u2013 to you, your home is priceless. But you\u2019re not a property professional. You\u2019re emotionally attached to the memories of a property and can easily be blindsided by a high valuation. Unfortunately, falling for flattery can tie you into a contract, delay the sale of your home and stop you from moving on.<\/p>\n

What the overvaluation represents<\/strong><\/span><\/h3>\n

More money means more opportunities for your next home. It could represent an extra bedroom, a bigger garden or two bathrooms instead of one. When a property has been overpriced, you could be lulled into a false sense of security about what your buying power is.<\/p>\n

Yes, you\u2019ll still need a mortgage and to sort out your finances, but if you think you\u2019re going to achieve more than you originally thought, it\u2019s only natural to set your sights higher.<\/p>\n

Lack of research<\/strong><\/span><\/h3>\n

Selling a property isn\u2019t as simple as contacting an agent, setting a price and getting viewings. You need to know what\u2019s on the market, how much similar properties in the area have been sold for, how long properties take to sell and so on. If you don\u2019t research the local market, there\u2019s no way of knowing whether your property has been valued accurately.<\/p>\n

Naivety<\/strong><\/span><\/h3>\n

If you get a couple of agents round and one gives you a much bigger number than the other, you\u2019ll probably go for the one that is promising a higher return. But are they the right agent for you? Have you spoken to other local agents? What\u2019s their success rate? What are their terms and conditions?<\/p>\n

All good agents know that those coming in with overvaluations and inflated promises very rarely deliver. An ethical and experienced agent will give you an honest and accurate property valuation based on hard evidence that clearly demonstrates the value. They will compare similar properties, similar sizes, and similar styles too, giving the most realistic figure. They may suggest making small improvements to add value or to make the property more appealing. What they won\u2019t do is promise you something that is unrealistic and leave your sale in limbo for months to come.<\/p>\n

Are you looking to sell your home? At Crane & Co, we pride ourselves on providing accurate, well-researched valuations. Get in touch with our team today.<\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"

When you\u2019re selling a property, getting a valuation is the first step. You need to know what a home is worth before you can plan your next move, but what if the value you\u2019re given is completely inaccurate? If your property has been intentionally overvalued (priced more than it\u2019s worth), it\u2019s probably down to the […]<\/p>\n","protected":false},"author":3,"featured_media":3017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,1],"tags":[8,25],"class_list":["post-3016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice-for-sellers","category-moving-home-advice-and-guidance","tag-advice","tag-jerry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/3016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/comments?post=3016"}],"version-history":[{"count":2,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/3016\/revisions"}],"predecessor-version":[{"id":3019,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/posts\/3016\/revisions\/3019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media\/3017"}],"wp:attachment":[{"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/media?parent=3016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/categories?post=3016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.craneandco.co.uk\/pages\/wp-json\/wp\/v2\/tags?post=3016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}