Importance of Valuations When Selling Your Camberwell Home

20th September 2019 posted in Sellers

If you plan on selling your Camberwell home, there are many things to consider and bear in mind. Calling on the services of a skilled and experienced estate agent makes a difference, and we are more than happy to assist you. However, you also need to think about the most likely buyer, and you need to ensure the valuation is correct.

The importance of valuations when selling your Camberwell home cannot be overstated. If you place too low a value on your home, you may generate a lot of initial interest. However, if you sell at this price, you lose out on money. Selling your home for a lower price can limit your options when you move on to your next home.

Low valuations worry some buyers

There is also the fact that a low valuation will make some buyers wary of your home. In the present day, buyers are savvy, and they do their homeowner on properties prices and values. This knowledge allows most buyers to quickly determine if a home offers value, or if there is something not quite right with the valuation.

If prospective buyers are cautious about your home because of a low price, you may struggle to generate interest in your home. Therefore, it is best to avoid placing a low valuation on your property because unless your only focus is on selling quickly, it is a strategy that doesn’t offer much success.

You also need to avoid placing a high valuation on your property. It is tempting to imagine that you sell your home at the higher price, bringing in a lot of money, and increasing your options. In a dream scenario, this would be a suitable approach, but it isn’t an approach you should consider.

As stated above, buyers are smarter, and they carry out research into homes and areas. If your house has an unjustifiably high price-tag, you’ll struggle to generate interest.

Vendors must be realistic

Vendors need to be realistic about their actions when selling their home. Even though there is still demand for homes in Camberwell and sales take place, the overall market in London is sluggish. This isn’t a recent development, and it is something many vendors are already aware of.

In these challenging market conditions, it is best to be honest and genuine with your market actions. If a higher value than the local average value is justified for your property, you should set your home at this price. There is nothing wrong with a high valuation if it is the correct valuation. However, if you are looking to get lucky with a higher valuation, you might find it limits your chances to sell your home.

You also need to be aware of external factors when valuing your home. Local facilities, school places, transport options and much more shape the way agents and buyers feel, so it isn’t just the condition of your home that matters. You should focus on creating the best home you can, but be mindful of the Camberwell features that shape prices in the local market.

If you’re looking to sell your home, or you are keen to book a valuation, contact Hunters Camberwell, and we’ll be more than happy to assist you.