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Tesco House Price Calculator

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I've just been using the new Tesco property website http://www.tescopropertymarket.com/. Its an interesting site but i'm not sure about the house price calculator. When i tried it out on my apartment it came back with a price that was 20% higher than what a local estate agent told us earlier in the year.

With all the building going on around here i would expect our price to stay level or even drop.

Does anyone know what they base their calculations on?

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This calculator lets you input information about a property and then uses the Land Registry database and the Nationwide House Price Index to provide you with an estimated sales price

It does what is says on the tin.

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It'll be intresting to see if they end up battling hackers

http://news.bbc.co.uk/1/hi/uk/6899322.stm

"basically, go to the cashier, pay for your groceries and then leave." yeah, just what you are meant to do while evacuating.

On houses, tesco conveyancing fee on an average house is around £700 + £50 ID check and BACS or what you pay for online conveyancing at the moment.

So they are only going after the estate agent part of the chain, or 1-2% of the sale price. If tesco charge £200 and you spend around £100 on showing people round, contacting them, time off work and "uplift" minimum then you save around £1,800 . But if the nasty evil estate agent gets you more money or you give them a sliding scale the higher it goes above your price that you worked out for selling through tescos and browsing rightmove.

I think most estate agents would get a better price for a property than a homeowner who is bound by feelings of responsibility and being overly truthfull to buyers. And it only has to be £1,800 more before you start to gain on average.

DIY Conveyancing seems a much better option to me, in conjunction with a tesco signboard that would be the way to go. You can pay a solicitor £100 for a stupidity check once everything is finished.

Edited by maxwell

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