TAS Offered selling price is double the value

[Brenda]

I have been offered to purchase a property which i currently reside in at the price it was last valued at, however, the price i have been given is more than double the valuation. What can i do?

 

[Tripe]

What is the valuation you have? ie. council rates, private bank valuation? realestate agent?

 

[Brenda]

The value ive been given by the vendor is $250,000 the last valuation was done by the real estate for $125,000 - $140,000.
We agreed on the last valuation which i know know was a lot less.

 

[Tripe]

Have you signed a contract?

if not, you don't have to do a thing. No point paying above market pricing.


The only risk you may have is, they may sell it to someone else.

I noticed Hobart has had some of the best realestate price gains in this weeks Corelogic report, maybe the market has moved a little since you had the valuation done.