PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

'Guide Prices' do these need to be believed?

Just a house I have seen with Haart, is priced £149,999-£169,999 - would the agent even pass on an offer below this?

Anyone brought or sold in this experience, what is a guide price?

Many Thanks

:beer:

Comments

  • anselld
    anselld Posts: 8,646 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    EA is obliged to pass on any offers unless the vendor has expressly instructed otherwise.

    Ignore guide price and do your own research based on similar sold prices.
  • Davesnave
    Davesnave Posts: 34,741 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    A guide price ought to be just that: a guide to the sort of figure you might offer to stand a chance of securing the property. However, if the property sits on the market for a long time, the price in the vendor's mind might well be revised downwards even if the guide remains unchanged.

    Agents are fond of guide prices on properties that are one-offs. It's pretty easy on bog standard houses to find comparables' sold prices and extrapolate.

    Occasionally, one sees a guide price which is more like that for auction properties, where the figure is typically low. This is where the agent is certain there will be good interest and a bidding war over & above the advertised guide is likely to ensue.

    An agent is legally bound to pass on any offers. Judge what the house is worth to you. If that's below the lower figure of the guide, you still have nothing to lose by making your offer.
  • RedfordML
    RedfordML Posts: 907 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Thanks, well put, and to use it as that, a guide makes logical sense. I just felt maybe thats the min that vendor will accept and maybe it is, but if you dont ask...
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.4K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.