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Buying or Selling
Property – a perfect science?
Economics is often
referred to as the “dismal science”, damned if it succeeds and damned if
it doesn’t. Bearing this in mind, it is no wonder that economists are
often at the receiving end of snide comments.
Same goes for the
property market. Has it ever struck you just how many people are
property experts when you mention that you are thinking of buying or
selling a property?
Your estate agent will
tell you that it is an excellent time to buy, but if you want to sell,
make sure that you’ve priced your house correctly, particularly of it
falls into the upper price brackets. A professional estate agent will
provide you with a detailed Comparative Market Analysis (CMA) assisting
you to make a decision regarding the true value of your property and not
just a ‘gut-instinct’. The one thing you have to realise if your house
is slow to move, then the price is too high.
Bankers on the other
hand look for value in a property and would grant a bond based on the
value that they attributed to it, using comparative market analysis as
their yardstick.
Just remember, whether
you buy or sell, the value of a property is determined by a proper CMA
and not by guess work and “gut feelings”. |
