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How close to the asking price should I offer?

Asked on May 18 2013, House Prices in Eastleigh | Report content

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  • It all depends on how much you like the property. If you are or are not prepared to lose it to another buyer? Lots of answers: how long has it been on the market, how does it compare with similar sized property in the local area? Summing up, pay what YOU feel it is worth, the agent should be able to negotiate between you and the sellers ensuring you are BOTH happy with the deal. Good luck...

    Answered on May 18 2013, Report content
  • I agree with above. You can look at prices paid for similar properties, but there can be so many reasons why one property will sell above another. We don't get to see the reasons behind why people pay what they pay, a property is worth what it is worth to a buyer. I would only suggest you pay what you feel it is worth to you and what you can comfortably afford.

    Answered on May 20 2013, Report content
  • Typically deal prices are done around 5% below asking price. Last year my clients typically paid 20% less! There are nearly 800,000 homes for sale across the UK and only 72,000 sold last month. Remember, the estate agent is NOT a broker - there to do a fair deal between both buyer and seller, he represents the seller, is paid by the seller to get the best deal for the seller so either negotiate hard or better still, hire your own buying agent! Average asking prices are some £70k above average sold prices. 30% of homes for sale have had their guide price reduced. A guide price isn't a statement of what the seller will take, it's part of the marketing effort to get interest.

    Web reference: http://henrypryor.com/blog/buying-advice/

    Answered on May 24 2013, Report content

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