Date Published 17 May 2022
Estate Agent jargon can be so confusing with expressions like MA's, Portals and AST, AIP, BMV.... Honestly, you need an interpreter!
Let's take 'Downvaluation'...sounds simple enough but what does it really mean when you are buying or selling a house?
Downvaluations can be an extremely frustrating part of buying or selling property, especially when both buyer and seller have agreed on a price they are both happy with, only for the sale to be scuppered by a third party opinion.
Of course, in many cases these reductions are justified, but in a market running as hot as we've seen, it's not unheard of for lenders to influence this decision due to their own fears around escalating market values.
Unfortunately, there's not a great deal that can be done to immediately remedy the issue other than the buyer increasing their offer or the seller reducing the asking price. It's hardly surprising that many sales, and the chain of property they sit within, can be jeopardised due to a downvaluation.
Almost quarter of all property purchases fall through but if your estate agent has a dedicated and highly experienced sales progressor, these hitches are easily navigated ensuring you as our client experience as little stress as possible.
For an all encompassing, refreshingly honest approach to selling your home, give Noonan a call, you'll be so glad you did.
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