Why NOT to overvalue your home.
Do not always opt for the highest valuation when selling your home.
No matter how much you may love your home, it is important to understand that it may not be worth as much as you think. Before making any decisions, it is important to get a professional opinion on the value of your property.
It is important not to overvalue your home because it can lead to a number of issues. If overpriced, potential buyers may be put off because it is too expensive. The property can sit on the market for an extended period of time, which can lead to it becoming stale and end up being detrimental to the final sale price. This is why, although tempting, it is not always best to go for the highest valuation. Sometimes an agent will deliberately overvalue just to get you to sign up with them and then once in contract, pester you to reduce your price.
Our advice is to always do your own research. What have similar homes SOLD for in your location? Will your home sit well with the competition thus attracting potential purchasers to view?