about the valuation of my flat?

[jenga079]

DP and I are hoping to move house before PFB arrives in July and have been getting our flat valued. I've been really cynical about the whole thing because I bought in 2007 just before the bubble popped (I know, I know, hindsight is a wonderful thing!!!) so was expecting to lose money.

Anyway, the first valuation was on Saturday and he valued it about £10k higher than I thought it would get. Whoooop!

Second valuation was today and she's valued it at the price I was originally expecting. Damn her!

She agrees with me. So why am I so cross? And would I be insane to go with the higher valuation?

I've never sold before so don't know!

When we sold our last house we got carried away with the valuation the estate agent gave us. Took months to sell and it was within £3000 of what we had expected to sell for. Lesson learnt.

Yikes not1not2 - that's a good point. Bloody hope it doesn't happen at either end of my current chain!

Also, their fee will be higher if you do sell well so it is their interest to value high as there could be someone who is willing to pay it.

when we sold our flat 1 agent valued it at £20 k (!!) more than another so we went with that. 3 weeks later we had had 2 visits and no offers. I personally thought that was too high but sometimes you have to try. We then put it on with new agent for £20k less and it sold in 2 days after 7 visits in those 2 days. We had already found anotehr house so wanted to get it done and dusted. so it will depend on your circumstances, but dont be surprised if you dont get as much interest in this market at the higher price. Also agents do put it on at the higher price and then tell the buyers that "you would accept less". Their way of ensuring you pick them! I know this to be try becuase I send my friend to pretend to want to buy my flat to see what the original agents said.

Go with a realistic price. I put my flat on the Market last year at the higher valuation, hoping I could get a better price.
The agents then suggested dropping the price 4 times in 3 months!! We haven't been able to sell and I think anyone looking might be suspicious as to why the price has dropped.
We are putting back on in the spring, at a realistic price and a different agent. Hopefully it will sell, but it feels like we have wasted several months chasing £5-£10k and probably spent that in mortgage payments.