How long would you hold out for your asking price?

[kinkytoes]

Just put house on the market, had several offers but none for the asking price. How long would you wait before thinking about lower offers? A week? Two weeks?

It depends if it's realistically priced and how desperate you are to move. There's no right answer.

I would have negotiated on an offer if the buyers were in a good position to proceed. Most people don't get the asking price unless you have an ultra desirable and unique house in a fantastic location. If you have priced very competitively for a quick sale, then you may want the asking price but most people price for wriggle room on offers.

If it was more than 95% and gave me the chance to move on, then I'd seriously consider any offer from the get-go. Hanging on for the asking price can be a bit of a pyrrhic victory if it takes so long that you are stressed/miss out on the next property etc.

Depends where you are, what the market is like, how desperate you are. Seemingly shortage of (reasonably priced) property here, lots going for asking price and above here. If you're in a similar position, reasonable to wait. Just be realistic about your local market and your house.

Depends if I had found somewhere. And if everyone is offering the same, that would indicate what the house is worth.

If offers were less than 10% under the asking price I'd accept one who was able to proceed quickly.

We offered 7% under asking price. No chain our end. Seller said no, still on market 6 months later and they've dropped it to what we offered. I think if it's within 10% and buyer is no chain it's worth being flexible.

Our ex neighbours recently sold their house. It was on for a week, had 6 viewings and 5 offers at full asking price. But then the house was reasonably priced (compared to some other places locally), in a desirable area and attractive to a wide range of buyers.

When I bought my house it had that stupid "offers in the range of" thing with widely differing values at the top and bottom. estate agents round here loved doing that a few years ago. We offered near the bottom, but not at the very bottom and emphasised we were cash buyers and in a great position to work to their timescales. I think that's why they chose us over some other offers which may have been higher.

Thanks everyone. Good to know people's thoughts. I'm new to this!