What's all this guide price business about ?

[WynkenBlynkenandNod]

We're sort of thinking of moving as friends are interested in buying our house and have seen a two bed bungalow at a guide price of £270k. We're interested as it is a decent size plot but would need to extend.

To make it viable for us they would need to accept £250k and if I saw something at £270k I'd usually assume they were looking at £250k - but I don't get what the guide price is in non estate agent terms, could someone please translate, thanks !

Is the house being auctioned? Guide price usually refers to an auction property, and it is - as it says as guide towards the amount expected at the auction. They may well start it at 200, but they expect the bidding to be in the area of 250 - 290. If it is an auction sale there are a few more details and costs etc that plenty of people can advise you on, so do ask.

If it is a guide price on a house for sale in the usual way, I would just treat it as an asking price, or an OFIO price, and offer whatever you would.

It's not an auction. So basically guide price is pretty meaningless EA mumbo jumbo?! Thanks.

Yes! And in this market all prices are guides now, so in a way it kind of makes sense, its just that it isn't often used. I haven't come across a house with a guide price before either.

I've found a few with a guide price now I've just flicked through. We might go and just have a quick look. I think I've lost the plot, swore I was never moving again after last time.