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How much to offer over the asking price?

Broglie · 2014-06-17 08:35:06

Hi, I am from Aberdeen, Scotland and I have been following local housing market closely since last few months. I have noticed that houses are sold for upto 15 to 20% over the asking price. One Flat - 2 bedroom was on market for price over £173,000 and it was sold at £200,000. Similarly a house on the market for £400,000…

Comments

davidmcn Posts: 23,596 Forumite

17 June 2014 at 7:55PM

Broglie wrote: »

Even 10% over the asking price or should i say valuation price seems to me a lot.

Well, first check which it is - the valuation is the more relevant one, the asking price isn't necessarily meaningful. I don't know about Aberdeen, but the "hot spots" in Edinburgh and Glasgow are certainly reaching 10% (and more) above the HR valuation. Depends on the property though.

You could wait for it to settle down, but prices will probably carry on going up before they settle.

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