How close is guide price to selling price

I

itsme

Guest
Thinking of putting in an offer for a house. The guide price is 375k. It's on the market a good few months. When selling our own the Ea told us expect to sell 20% less than guide. What do people think....
 
seems about right - has there been an offer yet? probably will be by the time you bid - basing this on our experience.
but nothing wrong in putting in a lower bid.
 
No, no offer on the house. i think it is overpriced but not sure by how much.
 
michaelm said:
I put my house for sale in February for a realistic price and was Sale Agreed in March @ 7% less than Asking. I was moved out in April.
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+1 It completely depends on how realistic the asking price is.

We bought a house recently for 10% of its asking price at the time, but it was over 20% than its original asking price a few months previously. But we were outbid on other houses, some of which went for over their asking prices because they were very realistically priced.
 
michaelm said:
I put my house for sale in February for a realistic price and was Sale Agreed in March @ 7% less than Asking. I was moved out in April.
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We put ours on in June and were sale agreed at 1.5% below asking in 15 days, 2 bidders. EA had suggested the asking price and promised the sale agreed price. So he knows how to price realistically.
 
f9710145 said:
We put ours on in June and were sale agreed at 1.5% below asking in 15 days, 2 bidders. EA had suggested the asking price and promised the sale agreed price. So he knows how to price realistically.
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Getting 2 bidders is key to getting a good price. Unfortunately we only had one bidder so were always going to be hard pressed to get Asking price or more.
 
Actually the first bid was only 3% below (305 on asking of 315, with a view to achieving 310). Good to see that counter bids are only going up by 500 - 1k these days instead of the nonsense from the boom where everyone seemed to automatically add 5k as a counter bid.
 
On a house asking 335k (unless it's particularly special) I would start with a lowball bid of 250k (which will be refused). Wait 2 weeks and if they don't bite, raise it 5% and say that's all you can afford and you're looking at another house. Don't be tempted to raise your bid (it's a buyer's market)
 
The asking price for this house was 375. I placed a bid of 290. No word back yet.The way I look at it- if house is for sale for months without a bid, why should I put an offer in anything near guide price.
 
Society said:
Don't be tempted to raise your bid (it's a buyer's market)
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itsme said:
The way I look at it- if house is for sale for months without a bid, why should I put an offer in anything near guide price.
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You might put in a reasonable offer if you thought that the asking price was reasonable and you actually wanted the house. Obviously unrealistic sellers wont sell anything but unrealistic buyers won't get the house the want.
 
the EA may not have even passed on the offer- might be worth following up with EA to check offer was actually put in
 
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