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Malthus

Because It's Worth It

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http://www.propertynews.com/brochure.php?r=1&c=10&s=126103932&i=7&p=73682096956&fp=1&sort=h2l

Haven't seen this tactic before

***23% DISCOUNT*** - This property has been INDEPENDENTLY VALUED by a Royal Institution of Chartered Surveyors (RICS) Valuer

Imho the only time a RICS valuation has any relevance is if the RICS surveyor gives you a cheque to match their valuation which clears with the bank ;)

If that's not the case you'd be better asking mystic Meg what your house is worth.

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http://www.propertynews.com/brochure.php?r=1&c=10&s=126103932&i=7&p=73682096956&fp=1&sort=h2l

Haven't seen this tactic before

Imho the only time a RICS valuation has any relevance is if the RICS surveyor gives you a cheque to match their valuation which clears with the bank ;)

If that's not the case you'd be better asking mystic Meg what your house is worth.

Also, what does "from" mean? is that from (upwards) from (downwards) or somewhere in the middle, ie the asking price? One of our local EA's has taken to stating PRICE beside, yes, you've guessed it, the price!! Very very helpful. Or desperate.

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Also doesn't say WHEN it was valued.

Might have been 2007...

Looks like a recent valuation.

100k for a 3 bed detached in North Armagh in a decent area is cracking value.

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Looks like a recent valuation.

100k for a 3 bed detached in North Armagh in a decent area is cracking value.

It's a pretty deceptive address - it's actually Down, close to Banbridge. I believe this is from another builder who won't be building for a while.

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Another property from one of these companies. Loads of them about now.

They agree a sale price with the vendor usually before repo occurs or another reason for a fast sale. That agreed price will be about 10% below the asking price.

The RICS surveyor is probably tied in with the company although it says independent. The solicitors will be tied in and the sale will go through very quickly.

I know a few companies that do this and package up a lot of these deals for investors, but they have to showcase the property on-line usually on RM or Zoopla. Probably on them if you search for it. The deal is probably already done unless somebody comes in with a higher offer.

The property details does state: Offers In Excess Of

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I have seen this company around and know their tactics very well. What surprises me is the number of people who use them as they do less work than an average estate agent and charge considerably higher fees. By less work I mean that they simply advertise on the usual property portals and don't carry out their own viewings, instead getting the vendor to show prospective buyers around. I also think they charge the vendor for the RICS valuation so they are making money at every point. They don't have offices in N.I so won't get any walk ins. Their sales pitch is to sell properties below current market value but like some people said, this market valuation is based on comparables and may not be up to date. For example last year I saw they had a house for sale in my area at £100,000 and were claiming that it was 25% below the RICS market valuation but we had an identical house for sale in the same development for £110,000 that wasn't getting many viewings so obviously wasn't the bargain of the century. £100,000 was certainly good value but it was not a 25% reduction below market value.

I think some distressed vendors get taken in by the sales pitch and see this company as a last resort as they need to sell very quickly. If they were realistic from the start and put the house on below real market value it would have sold already.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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