what price?

welshman01

Hi,

Need some advice please.

I’ve seen a house I want to make an offer on. Now the asking price is £269k,would you agree that setting the asking at this price, the vendors expect tosell for £250k (stamp duty threshold)?

If I was selling for this price I wouldn't expect one offer over £250k but Idon't know if my psychology is OFF

Any advice appreciated.

bmar71n

vendors tend to expect to achieve circa 90% of the asking price which in your scenario would take it below the stamp duty threshold.

So yes i agree with what you saying

bouicca21

Well I have a house for sale and advice from EA was to pitch the figure close to achievable. I'd probably think about a 95% offer but would turn down a 90% one. That having been said, when I come to buy again I'll put in a 90% bid and then be prepared to rise to 95% (assuming the price being asked is realistic of course).

cattie

Where are you? If I had my house on the market at £269k I would be expecting to get at least £260k, but I'm in an area where house sales are quite bouyant.

Pricing at £269k reveals a bit of psychology, as it is a bit less than the expected round up at the upper end of the price range to £270k & more than the expected round up of £265k at the lower end of the price range.

sims01

cattie wrote: »

Where are you? If I had my house on the market at £269k I would be expecting to get at least £260k, but I'm in an area where house sales are quite bouyant.

Doesn't have much to do with geography, but only with how realistic the asking price is.

I've been looking in good areas in London recently and have seen several properties sell at ~15-20% below asking (and equally have seen several properties go at and even slightly above asking price at times).