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The advice below should be a starting point to appraise your marketplace:
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According to the Ombudsman for Estate Agents - Code of Practice - any figure given by estate agents must be ’supportable, preferably with comparables of similar properties in a similar location.’ Get an idea of the competition - what other properties are on the market in your local vicinity and how quickly are they selling?
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Research estate agents websites or local newspapers and property magazines to get a feel for valuations of similar properties.
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Find out what price properties close to you have actually sold for. You can do this for free on soldpropertyprices.co.uk or thisishouseprices.co.uk Alternatively landreg.gov.uk/online charges £2 per property searched.
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Don’t over-price your property. If your house is too high compared to similar houses your house will not sell and in the end you may end up taking a lower offer.
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Don’t under-price your property. Do your research as suggested above and keep an eye on your local property market.
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Keep your eye on the overall property market. Are there plenty of ’sold’ signs around? Are properties selling quickly? This probably indicates a good time to sell
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Leave yourself a little room for negotiation, traditionally purchasers will expect to pay below the full asking price.
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If you’d feel happier, get an estate agent to appraise (’value’) your home for you. Most estate agents will do this free of charge.
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