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What is the latest average asking price to selling price ratio?

We are trying to buy a property at the moment, which is up for sale for £329,995. We have offered £297,500 (although we are able to stretch to £300k), but the vendor is insisting that they want £315k. We were wondering if his expectations are realistic (we're not sure they are) and so were wondering what the current average asking price to selling price is? Any advice welcomed! Thanks

Asked on Jun 20 2010, House Prices in Harlow | Report content

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  • This is hard to say as I don’t know where the property is or even if it’s on the market at a to higher price to start with. As a rule of thumb normally its within 5% of the asking price. Have you checked out a price comparison web site, there is one on Zoopla, if you put the postcode in and look at what it has sold for in a particular road, and when, this should give you an idea on whether the price for the property is on the high side or correctly priced. Good luck with getting your offer accepted.

    Answered on Jun 21 2010, Report content
  • I would say between 5-10% it will depend on what the house owner is willing to accept of course, but in the currant climate you see people considering considerably less than when the market was stronger. Do compare sold prices of similar properties in the area and asking prices. Sometimes the stronger buying position a person is in the better. E.g. a cash buyer or someone with no chain their end can move quickly, a seller sometimes will accept a lower offer to avoid being on the market long term and be trapped in a chain situation. Meeting half way or offering an extra 2-3% & being in a strong position can often seal the deal with motivated sellers. Best of luck.

    Answered on Jun 21 2010, Report content

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