LPT: Any case for upping your band?

[snazz]

If a person was in the process of selling their house- and has accepted an offer from a potential buyer...and subsequently receives LPT form with estimation less than agreed sale price- might it be in their interest to up to a higher band in order to support their original valuation...?...in case the buyer withdraws offer and uses LPT estimation to argue for reduced sale price?

ie. if I was now in the market to buy a hose- would I not be able to find out revenue's estimation of a property (or of area)..and use this if necessary as leverage to buy a house?

As the estimations to my mind seem to be broadsweeping....and in some areas, under previously perceived market value (also some areas over of course)...could this lead to a general decrease in house values in an area...?

House value of course is only worth what someone would pay for it- and what someone would pay for it could be influenced by what revenue estimate its value to be- if people comply and pay lower band - could this not lead to
general lowering of value of houses in an area...

longwinded way of saying- is there a case for upping your band to maintain house value...

 

[callybags]

If I was looking to buy a house I would ignore any revenue estimate or what the sellers put in for the LPT.

Not sure if this answers your question.

 

[Slim]

At this stage of the LPT process, the brush is very broad and most accept there going to be anomalies. If a purchaser wants your house, they will probably not be too influenced by the guide at this stage. In fact, they may be hacked off if you assess it upwards and leave them in a higher band! JMHO.