Guillaume Black argues that property investors waste time on "analysis parity"—trying to nail an exact market value (e.g., £185k vs £192k)—instead of focusing effort on securing the property at a much lower price (e.g., £160k). He recommends checking comparables only to set a conservative worst-case value, then contacting the seller to "solve their problem" and negotiate price; he warns lender valuations can vary widely (10–20%).
Chapters
So the biggest mistake I see people make with their property spreadsheet is falling to analysis parity. So they spend more time the research, the admin, trying to figure out the true market value of a property. So they're obsessed about is it worth 185 versus 192. But really their energy should be focused on how can they secure it at 160. And by all means, yeah, go and check the comparables, take a view what is really worth to you in the worst case and then pick up the phone, figure out and solve their problem. It's really what I can say to you here. And if you're still worrying about trying to figure out for sure what it's worth to the nearest thousand pounds, one, it's a futile exercise because if you, you send two values to the same property from the same panel, from the same lender, they'll be 10, 15, 20% apart, so it's pointless. And two, if you are thinking like this is because your mind is focused on not upsetting the seller and not on trying to solve their problem. And if there's no problem to solve, there's no value you can add in the transaction, there's no need to be made, you might as well move on.