article_snippet.sent: Sellers are now wildly over-valuing Sellers houses by around £74,000 – forcing buyers to barter Sellers down, analysis shows.
article_snippet.sent: Sellers are now wildly over-valuing Sellers houses by around £74,000 – forcing buyers to barter Sellers down, analysis shows .
article_snippet.sent: ’s peak and were routinely over-pricing their property, encouraging buyers to put in cheeky offers.
article_snippet.sent: A report said: ‘Previous high demand in many areas caused house prices in England and Wales to soar, with many sellers now looking to cash in as a result of a particularly buoyant market.
article_snippet.sent: But as the housing market begins to cool, those looking to sell are doing so at increasingly unrealistic prices.
article_snippet.sent: Last year, house prices rose by 8 per cent, according to Halifax and Nationwide, peaking at 10 per cent over the summer.
article_snippet.sent: The study said a recent fall in activity in the housing market had also prompted some estate agents to over-value properties in a bid to secure custom from depleted numbers of sellers.
article_snippet.sent: ‘overvalue a property on purpose to win the business and get the seller on their books’, knowing the price must later be knocked down significantly before the price sells.
article_snippet.sent: Lenders wanted to lend and the market went crazy, with almost every property receiving a ridiculous number of offers.
article_snippet.sent: Once buyers have interest in buyers property, buyers may find the price is pushed up if buyers enter into a bidding war.