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How much below asking price do people tend to go?
Comments
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If that were true surely you'd want to be negotiating with the estate agent??!
The seller may not want to talk money, that's why they're paying an estate agent, such a tactic may backfire.
Now then, you would say that as you are an estate agent yourself.
I'm basing what I've said on experience of negotiating with both. In my 32 years of buying and selling, I have found it better to negotiate directly with the vendor.0 -
I wouldn't worry about offending the sellers - they may or may not be offended or pleased by any offer, but there's no way of second guessing that.
As it's been on the market for so long, you may find that you, in common with previous viewers, don't like it as much as you hope!0 -
We just offered on a house which had been on the market for 5 Mths with no offers. Hadn't reduced price in this time and were really bigging it up when we viewed. Offered 10% below, finally agreed on 9% below asking. We are in north kent.0
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Lots of sellers don't want to talk money face to face, so I wouldn't try it as you'll likely make things awkward for them.
There's no rule amount below asking to offer.
In my area the question is "how much above asking will secure me the house?" https://www.kirkintilloch-herald.co.uk/news/house-prices-soar-1-47016340 -
That article is interesting, but I live in East Dunbartonshire and as far as I can tell, house prices have been pretty static. I hope I'm wrong as I'm just about to sell my house!(Nearly) dunroving0
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That is perhaps possible.Now then, you would say that as you are an estate agent yourself.
I have found it better to negotiate directly with the vendor.
It might be better as a buyer, but it may not be better for a seller.
Given your 32 years of buying and selling, at what stage does one cease to be classified as a first time buyer?I'm basing what I've said on experience of negotiating with both. In my 32 years of buying and selling, I have found it better to negotiate directly with the vendor.I am a first time buyer
https://forums.moneysavingexpert.com/discussion/57467220 -
I remember when my parents split up and sold the family home, it was structurally sound but tired and as a result was on the market for about 6 months. They were quite stubborn on the price for a while, but In the end after a few months of nothing much happening this one couple made a cheeky offer of 40k under the asking price & they just decided 'sod it' and accepted because it was getting to the point where they couldn't afford to keep it anymore.
That couple got an absolute bargain on a house in a desirable area. so it just goes to show it's worth being cheeky sometimes. Worst any vendor can do is say no & then you never see them again.
With our house though we offered the asking price simply because of how in demand the houses in the area were (typical 1 month or less turn around) and how much we liked it, so we didn't want to muck about knowing that there would be plenty of other interested parties.0 -
That article is interesting, but I live in East Dunbartonshire and as far as I can tell, house prices have been pretty static. I hope I'm wrong as I'm just about to sell my house!
Why do you hope you're wrong about prices being static?
Are you planning to sell your house and live in a tent?0 -
That's my experience too, but I think that it's possibly because people may be more likely to buy/sell to those they can speak with comfortably.
I'm basing what I've said on experience of negotiating with both. In my 32 years of buying and selling, I have found it better to negotiate directly with the vendor.
Certainly, if our last seller had relied entirely on their own agent and solicitor, they wouldn't have had a sale.0
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