Realistic pricing 'is vital' when selling a house

Posted: 21 Oct 2010 10:19:54 GMT

A specialist has suggested realistic pricing will ensure a quick transaction for those selling their property.

People selling their homes in Scotland will need to price their properties realistically in order for a quick sale, one expert has noted.

Property partner at Russel + Aitken Dianne Paterson said the same notion applies to dwellings wherever they are situated and noted those that are valued accordingly will sell quicker than those asking for a higher price.

She explained a premium can be charged if an abode comes up in a desirable area and it is a rare occurrence, but if a domicile is competing with several others the vendor cannot charge over the odds.

"Some sellers can afford to hold out longer to achieve their prices whilst others, due to their financial circumstances, will have no choice but to accept the first offer they receive," Ms Paterson noted.

Her comments follow the release of a survey by Knight Frank, which revealed the average price of prime property in Edinburgh dropped by 4.6 per cent in the third quarter of 2010.

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