Nested guides: Chapter 5 - How we value your home
- Chapter 1 - How to sell your house fast
- Chapter 2 - How to speed up your sale
- Chapter 3 - We buy any house services
- Chapter 4 - Why your home isn't selling
- Chapter 5 - How we value your home
- Glossary of UK property sale terms
How we value your home
Step 1: We learn as much as we can about your home
With your help, we gather as much information about your property as we can. After you’ve requested a valuation through our website, we’ll have a short phone call with you to understand more about your home. We’ll look for current or old listings of your home if there is one, photos and ideally a floor plan.
Step 2: We’ll assess the local area
Once we have all the information we need and we’ve spoken to you on the phone, we’ll carry out a detailed analysis of the current market conditions in your local area. Prices and trends differ significantly across London, so we'll look at the very latest price trends, average time to sell, liquidity in the market and also speak with our local area experts.
Sometimes we cannot offer a competitive advance for areas where market conditions are particularly challenging. For example, homes in Westminster have fallen by 5% on average this year which makes it difficult for us to fix an advance amount on day one.
Step 3: We’ll value your property
As well as using what you’ve told us about your home, we’ll use dozens data points to calculate our best estimate of a final sale price for your property, in the current market. We will analyse recent past sales, current listings, what’s under offer, average time to sell, competition on the market and more for similar properties in your area to see how your home compares.
We rely on the use of data to make our advances as competitive as possible and on average we sell for 98.5% of our asking price. This means we might find it difficult to offer a advance for properties where lack of data means we are not able to accurately estimate a final sale price.
Step 4: We finalise your valuation
We’ll share our valuation and indicative advance with you along with the key data points from our analysis, for full transparency.
To finalise our valuation and advance, our property experts will come out to meet you at the property. This gives us the opportunity to meet you in person, and answer any questions you may have, as well as to make sure we haven’t missed anything important about your home in our desktop analysis. Within 24 hours of visiting, we’ll confirm our final valuation and advance.
Frequently asked questions
My local estate agent has already valued my home; will your valuation be the same?
Our valuation may be slightly lower than those you receive from other agents, who may often over value in order to win your business. Unlike other agents, we aim for our valuations to be as accurate and transparent as possible.
How accurate are your valuations?
On average the homes we’ve sold in 2018 have been for 98.5% of our initial asking price, so we’re very confident that we value accurately and fairly. A common tactic by estate agents is to over-value your home as a way to persuade you to sign up with them, then over time they will reduce the asking price. In reality, the longer your home is on the market the more likely it is you'll have to reduce your price and accept a lower offer, wasting months of time and potentially missing out on your dream home. That's all avoided with Nested.
What’s the difference between the asking price and advance?
Asking price: This is what we’ll list your home for on Rightmove and Zoopla. This is how we'll market your home against the competition currently on the market
Advance: This is the it’s the amount you can withdraw if and when you need it. If your home sells for less, you still receive this amount.
We believe that it should be possible to sell your property with certainty, without compromising on price. Nested is an estate agent that will achieve the best price on the market. Unlike other agents, from day one we also fix an advance amount that you can use if and when you need to. This makes you chain-free and you can unlock money to move to your next home. Click here to find out more if you think we can help you.