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How to know market value of apartment

Real estate agents donot trust

Pravs_harry
post 8.Aug.2017, 09:21 AM
Post #1
Joined: 19.Dec.2015

Hi all,

I recently bought an apartment from Fastighetsbyrån. The guy was a lier who just cheated me by saying so many lies about price. I would like to check the market value of the apartment.

can anyone help me check it.

thanks,
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rajarana
post 8.Aug.2017, 12:16 PM
Post #2
Joined: 3.May.2017

go here: https://www.booli.se

Search for the area you live in, select the proper apartment area (m2) and rooms, etc.

Then find any property on sale now or in the past, scroll down the page to look at the sale price of similar properties. That should give you an indication of the true value of your apartment.
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LLHope
post 8.Aug.2017, 05:30 PM
Post #3
Location: Stockholm
Joined: 1.Jan.2014

QUOTE (Pravs_harry @ 8.Aug.2017, 09:21 AM) *
I recently bought an apartment from Fastighetsbyrån. The guy was a lier who just cheated me by saying so many lies about price. I would like to check the market value of the apartment.

The Market Value of the apartment you bought is the price you were prepared to pay to buy it. That was yesterday, today maybe everyone else will pay less ... and maybe when you want to sell, even if you think you were stupid to pay the amount you paid ...there might be someone who is also stupid and prepared to pay more!

Value of something is what someone is prepared to pay for it.
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Billy_UK
post 8.Aug.2017, 06:16 PM
Post #4
Joined: 5.Aug.2013

I don't think the concept of market value really works here with the bidding system. Two houses on my street were recently up for sale, both identical in size and plot but one had been more recently renovated. One was listed for 995,000 kronor the other 1.35m kronor. The cheapest one was sold for 1.4m and the other one 1.7m. Point being, the value of a property is whatever someone is willing to pay for it.

It's one of the things i hated when looking for somewhere to buy. If you see something you really like you never know what you're going to end up paying for it because the value attached to it is basically a reserve price.
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LLHope
post 8.Aug.2017, 07:27 PM
Post #5
Location: Stockholm
Joined: 1.Jan.2014

QUOTE
Point being, the value of a property is whatever someone is willing to pay for it.

= market value! Since the market was at that moment in time prepared to pay that amount.
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axiom
post 8.Aug.2017, 07:58 PM
Post #6
Location: Stockholm
Joined: 24.May.2011

The market value of an apartment is just that: what the market will pay for it. Your apartment now has the market value of what you paid for it.
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Svedallas
post 8.Aug.2017, 09:15 PM
Post #7
Joined: 21.Apr.2016

QUOTE (Billy_UK @ 8.Aug.2017, 07:16 PM) *
I don't think the concept of market value really works here with the bidding system. Two houses on my street were recently up for sale, both identical in size and plot but ... (show full quote)


The bidding system is really tricky, especially if you are not familiar with it.

The best way to go about it is to get an agent to work with you through the entire process. They will take a fee of course, but it is worth it, as they help with the bidding and also do all the leg-work to see the value and assessment.

There are many factors that add to the value, interest rates, location, age of the building, original historical structures etc. So even though starting bid will be low, there are so many factors that will play into final price.
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Pravs_harry
post 9.Aug.2017, 12:34 PM
Post #8
Joined: 19.Dec.2015

thanks for the replies...yes renovation also counts...but if the avgift increases then the price decreases...and the agent at fastighetsbyrån made so many lies saying that nearby apartments are sold for higher price but when i checked hemnet they were less but i already signed contract and he disagrees what he said and i have no proof...please donot trust swedish people or anyone while dealing with big money...even the seller hide lot of things from me...
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rajarana
post 9.Aug.2017, 02:20 PM
Post #9
Joined: 3.May.2017

QUOTE (Pravs_harry @ 9.Aug.2017, 01:34 PM) *
thanks for the replies...yes renovation also counts...but if the avgift increases then the price decreases...and the agent at fastighetsbyrån made so many lies saying that ne ... (show full quote)


care to elaborate what type of things they hid from you? And cautioning against all Swedes just because of one bad experience is irresponsible.

If you want people to take your advice seriously, give some details smile.gif
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ChocOwl
post 9.Aug.2017, 04:03 PM
Post #10
Joined: 17.Jan.2011

QUOTE (Pravs_harry @ 9.Aug.2017, 01:34 PM) *
thanks for the replies...yes renovation also counts...but if the avgift increases then the price decreases...and the agent at fastighetsbyrån made so many lies saying that ne ... (show full quote)

Obviously the real estate agent is not allowed to lie to you but in Sweden the property buyer has an obligation/responsibility to check things very very thoroughly. This is called "undersökningsplikt" and is outlined in the Swedsih land law, Jordabalken (1970:994). You might be able to find this law in English. The real estate agent probably had information about undersökningsplikt in the property information sheet or ad. As far as I know, the seller does not have "upplysningsplikt" ie they do not have to volunteer information. It is the buyer's responsibility to find out everything they need to know before buying the property.
As for the market value, although looking at prices on hemnet or boolia will indicate what others have paid for similar properties, it doesn't dictate the price of any other properties - that is up to the seller and buyer to negotiate.
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Svedallas
post 9.Aug.2017, 07:39 PM
Post #11
Joined: 21.Apr.2016

QUOTE (ChocOwl @ 9.Aug.2017, 05:03 PM) *
Obviously the real estate agent is not allowed to lie to you but in Sweden the property buyer has an obligation/responsibility to check things very very thoroughly. This is ca ... (show full quote)


It is the buyer's responsibility to find out everything they need to know before buying the property.

+1
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Genaro
post 10.Aug.2017, 09:06 AM
Post #12
Joined: 30.Mar.2015

QUOTE (Svedallas @ 9.Aug.2017, 07:39 PM) *
It is the buyer's responsibility to find out everything they need to know before buying the property.. +1


Interesting, though as I understand it is duty rather than an obligation. It is certainly the buyer that is responsible for fulfilling this duty.
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Pravs_harry
post 10.Aug.2017, 01:01 PM
Post #13
Joined: 19.Dec.2015

the swedish woman who sold me said she will provide me bills of all appliances in apartment that are looking quite new. And said some aplliances had warranty left on it.So i signed the contract infront of Maklare(agent). After one month when i have to pay all money she said there are no bills and bills are lost in flood in the basement couple of years back. I questioned her why did you not say me earlier on the day when I signed the contract, now she is saying I dinot guarntee you...i forgot on that day to inform you. I could have reduced the price of apartment if there are no bills on first day. She knows that and said yes for everything.

And agent is saying yes , she said she will provide bills but he is not questioning her. He is trying to cover-up the seller as they pay brokerage money. I asked for compensation for cheating and not providing bills or take back deal and provide my family accomadation i donot have place to live till i find a proper place. I had no other option but to pay full money because i have already said that i will vacate my old house. Agent is not supporting in writing that why I say he is a big cheat with double standards.
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Pravs_harry
post 10.Aug.2017, 01:29 PM
Post #14
Joined: 19.Dec.2015

I have recorded the conversation of agent and me. In this he agrees that the seller said she will provide bills and warranties. The seller is also smart because she has the habit of selling apartment after living there for sometime, so she must be quite smart. This thing was know to agent as she is a good bussiness customer for agent as well. She and her boy frd already sold two or three apartment after buying from another person and slightly renovated and sell it again, in same area. The agent said to me that she is in parental leave when i asked about sellers profession. He hid from me so that I donot get doubt.
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yet another brit
post 13.Aug.2017, 08:47 AM
Post #15
Joined: 5.Jan.2013

The seller is also smart because she has the habit of selling apartment after living there for sometime, so she must be quite smart

In a rising market, flipping an apartment or two is very easy, (mostly) legal and very lucrative. You could always do it yourself.

Buy a flat, preferably a bit run down but in a gentrifying area. Spend about 150-200k on a new kitchen & appliances (hello IKEA!), new floors, a lick of paint and maybe creating a new room if possible with a stud wall. Sell when complete - tell the förening that you loved living there but are moving because <insert excuse>. If you're lucky, you'll make about another 200-300k in profit - on which you will only pay 22% tax. The renovation costs are deductible, of course.

As long as you don't do it more than once or twice a year, the taxman won't come after you for running a business. They have bigger fish to fry.

Having a friendly and not entirely scrupulous estate agent on your side is helpful, but not necessary.
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