If you bought or sold recently, how far below the asking price did you go?

[Laugs]

We have just been offered a third below the asking price for our flat - admittedly by an investor.

I was expecting to sell for about 10% below our asking price and pay about 10% less than asking price for another property...

I just wondered what other people's experience has been in this crazy market.

Hoping to exchange soon on our house purchase, offer accepted at 12% under asking.

Fingers crossed all goes to plan there tyler80. :)

We sold in March this year for just less than 2% under asking and bought at 3% under asking. But we used the same agent for sale and purchase and I think she priced sensibly.

Depends whether you mean original asking price or final asking price (recommend using Property Bee).

We bought a house this year (Surrey) where the original asking price was £1.95mm but this was reduced to £1.6mm after around 2 months in a few steps. We bought the house for £1.35mm, so this 30% under original asking price or 15% under the final asking price.

Most stuff we've looked at was going for 5% under final asking price in early 2010 but by late last year this had dropped to 10-15% under.

Estate agents being what they are, I think it can be misleading to talk about % below asking. 30% below a very inflated asking price may still be overvalued. Surely it's best not to price yourself out of your market by setting the price too high, and get lots of people through the door, so your flat finds its market price on the basis of what a range of people are prepared to pay for it.

Fluffy maybe at that level the market is quite different because buyers for megamillion houses are not going cap in hand to their mortgage broker asking for an extra 10k on the basis of their earning. Not that it's a market I know much about, sadly

we just bought for 5% below asking price. I always thought we'd push for a harder bargain but the house is in great condition and we are being kicked out of our rental so didn't have the luxury of quibbling/waiting. Frankly the price we're paying is what the effective asking price should have been - we're basically just buying it below the stamp duty threshold that no one was likely to go over anyway. i think the vendor has done very well.

I've definitely seen houses I would have offered 25%-30% off on - because the asking price was so inflated. But some buyers take the piss too.

My parents are in Northumberland and nothing is shifting in the village they were living in. After 11 months they are about to complete on an offer 15% below the asking price. They count themselves lucky to have sold at all. Those who won't move on the asking price aren't moving at all.

We sold for 8% under the asking price and bought for 6% under. But both ourselves and the vendors had been steadily reducing the asking price in the year before that, to come closer in line with the market, so in reality it was more 18% and 12% below the original 2010 price.

If you check Rightmove's Price Comparison Report it will show you the original asking price for recently removed properties and, if it's available yet, the actual sold price from the land registry. In my experience there is normally a good 10-15k difference and it's rare to see something that was sold for the exact asking price or above that.

Sold within 9 days at 5% above asking price, bought at just under asking (vendors had already reduced their price for a quick sale). We're in one of the few places where prices are generally staying up - we went on the market at a lowish but reasonable price as we wanted to sell, unlike lots of vendors who put on massively over-valued then have to reduce.

This is all very interesting!

blindmansmuff Was your comment to me directly? We are in the position where we can't actually move anywhere unless we get a certain offer, so there is no chance we'd accept an offer 30% below the asking price. Though I do think the estate agent may have inflated the price. We actually went on below what they suggested in order to be more competitive, and I would expect to sell it below that, but who knows really? There seems to be a lot of guess work involved! We're not desperate to move anyway - luckily! - but there are just far fewer people viewing around here than you are talking about. I've never heard of anyone having that number of viewings.

We sold for 3% below asking price and bought for 3% below - although we were very lucky as house price had already dropped from when we first viewed it so in effect was 15% below original price (if that makes sense ).

We've just bought for 15% below asking price. We would have paid full asking, simply because it's a great house for us, in the perfect area.

We bought for a lot more than it was sold for since it was built in 1996 (of course). But we made sure to buy somewhere we can make lots of good changes. Also we are in SE London and the area is about to join the tube map, so everything will go up. So, relatively confident the value will hold ... fingers tightly crossed

Laugs no not you personally I just meant in general that over or under asking price doesn't mean much because houses can be over or competitively valued.

We've had a load more viewings and another offer of 15k under. I just wouldn't sell for that. I can't quite believe what I've just done but I had Foxtons over for a valuation and they want to put it on at a much higher price to get the extra 15. I've always disliked them but they do have a very slick set up, brilliant website, work evenings, etc. Am now in quandry over sacking my lovely, chummy but rather useless agent.