mortgage lender would also check the comparables
before lending on a property or agreeing the mortgage application. This is an important reason that your asking price should be
An over-inflated asking price will put off viewers and even if you receive
an offer to buy your property close to the asking price, if the buyer requires a mortgage the lender will reject the application if the price is too high.
Many vendors find that they have to reduce the selling price in line with the realistic
property valuation of the mortgage lenders
When choosing an Estate Agent, therefore, do not be influenced by the Agent which values your property the highest. This may be a tactic because a vendor is obviously tempted to
choose the Estate Agent suggesting that they can achieve the highest selling price when selling your home.
A few weeks later without many
viewings they are likely to suggest that you reduce the asking price.