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What is property guide price

A guide price is stated between £280K-£310K. Would asking price be £280K with offers expected 5-10% below £280K. Why can't EAs sell with a single asking price instead of creating confusion with price guides?

Asked on Feb 19 2012, General in Loughton | Report content

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  • A guide price is just that, it is to try and guide you to offer around that price. To state £280K-£310K is a little confusing, it seems to suggest an offer somewhere between those two prices would be acceptable, but often people like to bid below an asking price and negotiate up a little. My guess is that the vendors do not want to accept lower than 280k, and are trying to coax a higher offer. You could try to come in lower than the 280k to know what the vendors are looking for.

    Answered on Feb 20 2012, Report content
  • In selling property, a price that gives buyers a general idea of how much the seller wants, but which may be reduced or indeed increase. In simple turns it is just a rough idea of what the price will be.

    Answered on Feb 21 2012, Report content
  • Guide price can be used by agents as a way for sellers to appear lower in price order online. Sometimes agents use the lower price as an indicator of where a buyer can begin with an offer but it may not be a price the seller would even consider but a bottom line for the start of negotiations.

    Answered on Jun 11 2012, Report content

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