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How to avoid buyer’s remorse
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Government sets eyes on AML violations in the property industry
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The Guild comments on the Autumn Budget
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The Guild expands to Northern Ireland
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The Guild launches in Northern Ireland
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Video: How to know when it's time to sell your home
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Video: How can you become an estate agent?
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Video: How to buy land and build your dream home
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How to upgrade your home for less
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Video: How to spot an overpriced home
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The Best British Villages You've Never Heard Of
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Renovating a derelict home
28 March / 2018

How to know when it's time to put your home on the market
16 March / 2018

The Guild's reaction to the Spring Statement 2018
14 March / 2018

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13 March / 2018

Spring Statement wish list
9 March / 2018

Video: Sell Your Home Through the Modern Method of Auction
9 March / 2018

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7 March / 2018

Top 10 ways to add value to your garden
6 March / 2018

Secret tips to sell and move in before Christmas
19 November / 2018

VIDEO: How to get more property viewings
24 July / 2018

VIDEO: How to take the stress out of moving
26 October / 2018

How to take the stress out of moving house
20 June / 2018

Video: How to homestage your property to sell
4 April / 2018

How to know when it's time to put your home on the market
22 May / 2018

Property Predictions for the Housing Market in 2018
21 June / 2018

Top 10 ways to add value to your garden
21 June / 2018

How to avoid buyer’s remorse
19 November / 2018

What are the 10 biggest turn-offs for home buyers?
25 October / 2018

Splashing Out: Bathroom Bliss
18 October / 2018

For sale: Five of the best gorgeous gardens
18 October / 2018

What to avoid when buying a property for the first time
26 October / 2018

Which room convinces you to buy?
9 August / 2018

VIDEO: Top tips to renovate a property
4 July / 2018

Video: How to turn your homes weaknesses into strengths
21 June / 2018

Video: How to know when it's time to sell your home
24 May / 2018

How to upgrade your home for less
24 April / 2018

Video: How to spot an overpriced home
22 May / 2018

Video: Upsizing in 2018
6 April / 2018

Renovating a derelict home
28 March / 2018

Video: Sell Your Home Through the Modern Method of Auction
21 June / 2018

Government sets eyes on AML violations in the property industry
1 November / 2018

The Guild comments on the Autumn Budget
30 October / 2018

The Guild launch event in Northern Ireland a huge success
27 September / 2018

An interview with Wilsons Auctions
21 September / 2018

Competition: Win a luxury hamper from Regency Hampers
15 September / 2018

The Guild expands to Northern Ireland
4 September / 2018

The Guild launches in Northern Ireland
29 June / 2018

Win a birthday cake to celebrate The Guild’s 25th anniversary
22 June / 2018

The Guild's reaction to the Spring Statement 2018
14 March / 2018

Spring Statement wish list
9 March / 2018

Should you buy, sell or trade up before Brexit?
19 October / 2018

Northern Ireland - The happiest place to live in the UK
11 September / 2018

The Best British Villages You've Never Heard Of
4 May / 2018

Video: How to upgrade your home for less
14 June / 2018

Video: Can your garden add value to your property?
31 May / 2018

Video: How can you become an estate agent?
18 May / 2018

Video: How to buy land and build your dream home
11 May / 2018

What are the Benefits of Downsizing in 2018?
16 March / 2018

Spotting an Overpriced Home

blog cover image

Spotting an Overpriced Home

Selling GPEA 24th February 2017

Every seller is tempted to overprice their home. They may have carried out lots of work over the years or may need the extra money to trade up.

Buy as a buyer, you want to pay the market price.

So how do you spot an overpriced home? Here are our top five tips.

 

Number one

How long has it been on the market?

If it’s more than 60 days, chances are that it is not selling because it’s overpriced. Though be aware that some high-end homes can be on sale for a longer period.

 

Number two

Have home improvements inflated the price?

If an owner has just spent a lot of money on an extension or refurbishment, they may price their home higher because they want to make a profit. But love and investment in a home doesn’t always get a reward.

A home in poor condition should not try to compete with a newly refurbished home on the same street, either.

 

Number three

Does it match the value of other properties nearby?

If the house next door recently sold for a fraction of the one you are viewing, something isn’t right.

Take a look at current listings and properties that were recently sold in your postcode area to compare. Remember, the asking price isn’t the same as the sold price, but previously sold prices could guide you towards a good offer.

 

Number four

Do your research

Always do your homework. At the Guild, we recommend looking at lots of online resources, from mortgage advice to solicitor reviews. Getting things in order now will save time and stress down the line.  

 

Number four

Is the location desirable?

Similar properties can vary in price hugely from one side of town to the other. The trendiest place is always going to fetch a higher price, so keep that in mind.

 

The best solution is to set the price sensibly. Sometimes a low price may generate more interest. If in doubt, talk to your agent.

You can get more information on overpriced homes on the Guild’s blog online, as well as lots of other topics to help you with buying and selling.