As we all enter adulthood, we learn of the 3 so called biggest myths in life.

  • 3 years ago
  • 1
  1. The cheque is in the post
  2. Of course, I love you
  3. And I promise not………….well my memory is not good enough to recall the third one.

But now is the time to explode the biggest myth there ever was in the property market. Over the
years and never more so in the past 6 months I hear agents saying “well your house is worth what
someone is prepared to pay for it “wrong, wrong, and thrice wrong! So, let’s get this clear a house is
worth what the building society surveyor says it’s worth and NOT the buyer, seller, or agent. What
about a cash buyer I hear the cry? I can count on the fingers of Richard Kimble how many cash
buyers do not get a survey or valuation.
When inexperienced agents, some corporates say 7 years is vastly experienced, or indeed lazy
agents go to valuations that I have been too they often win the instruction by overvaluing or saying
its worth what a buyer will pay and we can achieve well in excess of the asking price. Happy Days
says Arthur Fonzerelli but everyone seems to forget the words “comparable evidence!” after the
lenders surveyor has been to the property they start ringing agents for the comparable and it goes
something like this. “Chesh I have just been to 1 High Street which is sold at 200k, have you been
there?” Funny that “yes I have I can’t see it being worth more than £175,000” neither can I comes
the reply. Swiftly followed by the down valuation.

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