House being sold directly by owners - but way overpriced

Sometimes sellers use the figure that is still owing on their mortgage as the selling price even though it has no real relevance.

It is only relevant if they cannot afford the short fall if they are in negative equity

MarySmyth said:

Sellers can sell for whatever they wish- no rule against it?

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I don't think this is actually the case. They can sell it for more than it's worth if they wish. However, in some circumstances they cannot sell it for less than it's worth; e.g. if it is mortgaged the bank has an interest. Also, Revenue will take a reduced stamp duty hit if a property is sold for less than it's worth. I believe there have been scenarios where alarm bells have rung with Revenue is such cases.