How soon would you accept a 95% asking price offer in current market?

Myci85

A purely speculative question, if you are selling your house, how soon after it went on the market would you consider an offer 5% below asking price?

propertyrental

depends

* how realistic my asking price was

* how keen to sell I was

* how much other interest there was

but seriously: about 7 and a half days.

MorningcoffeeIV

Depends on the asking price. Were you expecting to get more or less, or the exact figure?  

Is there a min figure you need?

njkmr

Is it 95% of 100k or 95% of a million ?
How quick do you need to sell ?

SilverSix

Probably not within the first fortnight, particularly if there has been moderate interest and viewings.

I was offered -10% 3 days after going to market by a chancer...

bobster2

Personally - I would generally set the asking price expecting to end up completing for 95% of the asking price. People like to feel they are getting a discount!

Having said that I'd probably wait a week or two before accepting - so see if other offers were coming in.

subjecttocontract

Think I'd personally rather negotiate by offering to discount by the buyers stamp duty cost, which would be to my advantage.

Myci85

So I'm the buyer in this situation, trying to find the balance between not offering more than I think a property is worth, but also not wanting to miss out on it. It seems a harder line to toe when a property is newly listed. 

prettyandfluffy

It depends on both the buyers' and vendors' position and ability to proceed.  Cash buyers will always be more attractive.

HHarry

It’s a funny market so depends as everyone has said.  We were offered -10% multiple times in the first 4 weeks, and genuinely thought we could acheive more.

6 months later (after some Agent incomptence and misfortune) we sold at -10%.  We should have got shot of it ASAP.

AlexMac

In the current market I’d bite their hand off. ( slang for accept sharpish)

I’ve always bought and sold around 5~7% under asking except in about 2,000 when we paid the asking in a hot seller’s market.