Q. I recently decided to sell my property and was astounded to receive an offer for the full asking price within 3 hours of placing the property on the market. I am now having second thoughts with regards to accepting it as I am slightly weary that the estate agent may of under valued? Do you think I am right to be cautious?
A. I am not surprised that you are hesitating over accepting an offer that has come in so quickly after your property hitting the open market. However in this scenario, we have to examine the current market conditions to consider whether or not it’s simply because we have an extremely buoyant market or perhaps as suggested the property has been under valued.
The current market conditions would suggest that the property is unlikely to have been under valued, as this scenario is a regular occurrence for most agents in the Docklands area at the moment. There seems to be an endless supply of qualified buyers for every property that hits the market right now, thus allowing agents to view immediately with several ready and willing buyers as soon as the right property hits the market. Speak to other recommended local agents for an over the phone appraisal to clarify the valuation before proceeding with the offer.