What's the offer 'Norm' these days

pinkpiglit

In my little corner of London, houses are being sold at asking price or anything from 10-15% above. We went straight in at asking price on quite a few but we didn’t get a look-in as they had other buyers willing to pay more than we could afford. (Many of them were cash buyers as well, whereas we have/need a mortgage).

Most places around us being snapped up, but we did see one property that both my husband and I, as well as the estate agents(!), thought was overpriced by about 15%. It had been on the market for more than six months when we viewed it and they hadn’t received any offers (most places around us are “under offer” within a period of 1-10 days). We offered 10% less than the asking price which the vendor declined, and the next day they actually INCREASED the asking price! Needless to say it’s still on the market some eight months after it was first listed.

We are also selling our own property in order to buy our next one, and first offer we received was 2.5% below asking price.

MobileSaver

Wallhart wrote: »

Just blankly blacklisting someone who puts in a bid too low to your liking shows arrogance.

Totally disagree - sometimes you just know that someone is going to mess you about from start to finish - stopping them in their tracks is the sensible, not arrogant, decision. For me being offered 20% below asking price without a very good reason would raise all sort of alarm bells.