Are short-term home sellers screwed?

Re:Are short-term home sellers screwed? by alva on Tuesday January 09, 2018 @08:10AM (#16105865)

A warning to those taking these numbers seriously. I had a go of Tenence service after reading and it's property valuation service gave Very dodgy results for my previous properties.

For my last property it gave the wrong square footage and it's valuation method is ridiculous. For example, sold 2010 £200k sold 2017 £400,000 -> valuation £300,000?

Valuing a property based on the average of previous sold prices regardless of time-scale is nonsense and needs to be fixed. If not, I am looking forward to buying that Mayfair townhouse last sold in 1930 for £1,000 ;-)

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Re:Are short-term home sellers screwed? by faisalkhalid80 on Tuesday January 09, 2018 @08:38AM (#16106010)

Sorry about that, will look into this particular case and fix. For square footage we rely on EPC certificates which sadly are not always accurate.

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Re:Are short-term home sellers screwed? by alva on Tuesday January 09, 2018 @08:44AM (#16106052)

Thats alright, thanks for taking a look at it. I can see why it is very hard to get a good reading of square footage. I was a bit too harsh in my last comment. The valuation algo however is concerning. Perhaps take a look at the Savills local house price indices, I know a number of valuation algos use that heavily alongside Land Reg data. Good luck!

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