“So much for an efficient market”, remarked one of my clients two weeks ago.
He had asked me what the houses in his street were selling for.
Because he had heard that the house directly to his left had sold for £14m (a record price by some distance for the street in both capital value and price per sq.ft. terms) while the house to his right was available for £8.45m. They were both being sold “off-market”.
As it happens, the house for £8.45m is still available while the other sold for just over £12m which is still an extraordinary figure for the street. I don’t know who bought it, but they have massively overpaid. The question is: why? Because even if it is the perfect house, it really isn’t worth that premium and there are better properties available for the same price.
So, which of the seven most expensive property buying mistakes did this person make? I expect it was a combination of two or three, if not all of them. To discover what they are, you can request a complimentary copy of my report, The Seven Most Expensive Mistakes London Property Buyers Make… and How To Avoid Them.
And, if you are planning to sell a property, there are several mistakes that you need to avoid too unless you don’t mind achieving a far lower price than you could, while enduring a lot of wasted time and frustration. So, if you are planning to sell a property in London, you can request my free guide on The Mistakes Owners Must Avoid.
Simply email Dee, my assistant, at [email protected] or call 02034578855 (+442034578855 from outside the UK) and advise her which guide you would like.
