Guide price and making an offer

[GoneOffOnATangent]

I'm (hopefully) about to buy my first house and I'm not sure what to offer. The house has been listed with a guide price range, which I've never seen before. I've only ever seen 'guide price' associated with properties going to auction. My partner thinks we should offer around 8% under the lower end of the range. My thinking is that the lower figure would be their minimum acceptable. I think I've also done myself a disservice by not playing it cool and being too upfront with the agent!! What would be a reasonable offer in this situation?

Post a link?
Generally when there's a range it is to get people in lower affordability bands to view it but really they want close to the top of the guide. I wouldn't think they would entertain lower than the lower guide.. but if you can justify a price lower there is no reason not to

www.rightmove.co.uk/property-for-sale/property-64833955.html?premiumA=true

That was basically my thinking about it. It seems to be priced toward the higher end of the market anyway though, looking at similar properties. There are a quite few on the market for less.

As above, guide prices are usually used to get into more prices bracket searches on Rightmove. However it looks like it’s been on the market for a while so I would go in at 10k under the lower value to start with, but that’s me and others would suggest differently.

My partner's thinking is similar to yours, jgm!

170k for that area and that house is a lot, I paid 148k for similar house just down the road in March!

I would offer 160k.

Good to know, wheelers. It does seem to be the higher end of what's available. I viewed a few very similar houses priced between 150-165k

I would say they are trying their luck. When I first started viewing in Jan - Feb all similar houses were selling for 135 - 140k, they all sold quickly so everyone seemed to put them on the market for 150k. 170k seems overpriced. It's only a 2 bed and not in Chapel A or Horsforth.

Looking at similar and sold prices 150-160k would seem to be a fair price. 180k is very high based on sold and surrounding prices... not my area though, so don't know if you are in a rising market or not

I would offer £157 K so you have more room to manoeuvre/ negotiate but that's me.
Depends how much you want it.

Thanks all! Perhaps it's been on the market for a while as they don't want to move on price...

I'm definitely torn between logically thinking it's a little on the pricey side and just wanting it! There are several others that fit the bill in reality though so I think I'll offer a bit less and see what they say.

Did you make an offer @GoneOffOnATangent? I'm in a similar situation with a house I've seen so I'd be interested in what you offer and what they say - good luck!

I haven't had a chance yet as had to travel there and back for another viewing today. I intend to on Monday - will keep you updated.

@GoneOffOnATangent

Just noticed you said you had travelled to see the house so assume you are not local..

It is a lovely house, but I agree with others that it seems overpriced for the area. I also thought it worth mentioning (you may well know this already, in which case ignore me!) that in the streets around there, there are absolutely loads of student houses. It is always very quiet around LS4 and LS6 in the summer, presumably when you have viewed, and very much not quiet in term time! Students return to Leeds in the next 7-10 days so it may be worth coming back for another look next weekend to get a sense of what the area is like when the students are here.

I lived near there as a student, is the house a back to back?

Easily It's at the end of a row of back to backs but this one doesn't have anything on the back. How long ago were you there? What's the area like?

III77 That's a good point actually, thanks. I hadn't realised it was still summer!