How do you factor land value into offer price?

Discussion in 'The Buying & Selling Process' started by fx hedge, 21st Sep, 2015.

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  1. TMNT

    TMNT Well-Known Member

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    I see your point, but if its so vague, then I think giving a figure is misleading. giving a figure means that its certain to be that figure or thats what it implies,

    I think they should provide a range, that way people will assume that its not a certainity
     
    TMNT, 21st Sep, 2015
    #21
  2. Sackie

    Sackie Well-Known Member

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    This well and truly happens... unfortunately more often than the clued up people can imagine..:confused:
     
    Sackie, 21st Sep, 2015
    #22
  3. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Residex actually does have a price range along with the 'average' within that price range. I'm fairly sure RP Data has this as well.

    Residex also immediately follows this with a 'confidence indicator' on a sliding scale. RP Data uses a traffic light system (green, amber, red), but personally I think this is a bit vague.

    The real problem is many people simply don't take the time to really think about what these reports are saying and how they go about coming to those figures on the front page - the information's all there if you care to read it and actually think. Another case of people delegating their lives and financial well-being to someone else, in this case a database and an algorithm.
     
    Peter_Tersteeg, 21st Sep, 2015
    #23
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