🚫 Don’t Fall for It! Why Overvaluing a Property Can Spell Disaster

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• Posted on 18th August 2025
• Category: Property Blog

Here are some home truths about property overvaluations that you must read if you’re thinking about listing your home.

If it’s too good to be true, you already know the rest of the saying. Even the savviest sellers can get caught out when emotions are high and so much is at stake.

Let’s look at what overvaluation is, how it hurts your sale, and how to protect yourself from common tricks.

💰 What is an overvaluation?
Overvaluation is when a property is priced far above market value.

BBC Radio 4’s You and Yours recently shared the story of a family who accepted a £670,000 valuation when two other agents had suggested £500,000 and £550,000. After three months, one viewing, and no offers, they had to slash the price by £100,000. They’re now starting over with a new agent at a realistic price.

⏳ The risks of overvaluation

• It wastes months of your time, leaving you stuck in limbo.
• It distorts your budget, leading you to make plans based on money that will never arrive.
• Buyers start to wonder, “What’s wrong with that property?”
• Competing homes look better value and get the attention instead.
• Lenders may “downvalue” the property, forcing buyers to walk away.
• Your home won’t even appear in filtered searches if it’s priced out of range.

⚠️ Common tricks to watch out for
Some agents will tell you things like:

• “We already have a cash buyer lined up for your property.”
• “We’ve got hundreds of people on our mailing list who’ll want to view.”

Sometimes it might be true. More often, it’s just a ploy to get you to sign up.

If they really do have a cash buyer, ask them to prove it. Request a simple one-viewing contract with no photos, no marketing, and no long tie-in. This limits their costs and shows whether that buyer exists, or if the agent is just pulling the wool over your eyes.

📝 What sellers should consider

• A confident agent won’t need to lock you into a tie-in period, charge an upfront cost or have a withdrawal fee. Watch out for contracts that tie you in or will charge you if they don’t sell and you change agents.
• Always ask for evidence of their valuation, even more so if it sounds much higher than you expected.
• Challenge agents who can’t back up their figures with recent local sales.

Remember, if it looks too good to be true……

We always work to deliver the best selling price for our clients. But we also value honesty and professionalism. If you’d like an honest valuation, contact us today.

Thanks for reading

Michael