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Guide price???
fatboyonadiet
Posts: 5,400 Forumite
What does it actually mean? I've spotted a property I'm interested in and it says 'guide price', does it mean they're looking for offers around that? It's a starting price???
2p off is still 2p off!
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Comments
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Is it for sale or for auction?
If for auction, then this is the price they expect it to fetch - but of course it could go for much more on the day.
If it's for sale, it's effectively the asking price, but they're open to offers.Warning ..... I'm a peri-menopausal axe-wielding maniac
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'Ere well I've been misled then, my property is up with a guide price, I was given 3 quotes and we opted for the least amount as we were informed by the valuer's and the estate agents that the guide price is a starting point for offers.
Subsequently I refused the first two offers on my house because I presumed they were supposedly to start from the guide price!:doh:DFW Nerd 267. DEBT FREE 11.06.08
Stick to It by R.B. Stanfield
It matters not if you try and fail, And fail, and try again; But it matters much if you try and fail, And fail to try again.0 -
Triker wrote:'Ere well I've been misled then, my property is up with a guide price, I was given 3 quotes and we opted for the least amount as we were informed by the valuer's and the estate agents that the guide price is a starting point for offers.
Subsequently I refused the first two offers on my house because I presumed they were supposedly to start from the guide price!:doh:
I don't think there's any legal or generally accepted definition. It has its normal meaning e.g. as a guide, expect to pay around £x.
If it were a minimum price, I'd expect the particulars to state "offers in excess of £x" meaning that you will take no less.
But bear in mind (and look at other threads on this board) that no-one seems to expect to pay the price the property is marketed for. Everyone seems to expect to get a property for about 90% of the price - irrespective of how the price was set - especially following the survey.
At the end of the day, the selling price will be down to negotiation between the two parties. I think all these different descriptions for the amount the seller would ideally like to achieve just muddle an already confusing process :mad:Warning ..... I'm a peri-menopausal axe-wielding maniac0 -
Thanks DFC and Triker, it's for sale not auction.2p off is still 2p off!0
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