Do people offer asking price?

[thinkythonk]

Hi everyone

We are about to put our house on the market. It's been valued at between 185-195. The estate agent has recommended putting it on the market for 190 which we are happy with and then he also said we could put it on for 195 but it might take longer to sell.

I don't think we would get 195 and we aren't interested in hanging around waiting for more money, we want to put it on for a reasonable sellable price and get on with moving.

If we put it on for 190 I think we would really quite like the asking price. Obviously if it clearly isn't selling we would reduce.

My question is, if we put it on for 190 is anyone going to want to pay the asking price? Are we better off going for 195 or 192 and accepting offers of 190?

Thanks

It depends how buoyant the market is in your area really.
I sold my house in SE London earlier this year it was marketed at offers over £290k we were offered £285k in the first week which we declined and they increased their offer to £290k which we sold at. The house we bought was offers over £350k and we bought at £350k.
If houses are selling well locally and the house is reasonably priced you can expect it to go at asking price.

We offered asking price on a property in a very high demand area and was a good example of its type. It went to best bids and we then offered about 3% over asking and got it.

I guess you have to think what else is on the market that people could buy instead of your house.

The Right Move pricing parameters are either £190K or £200K so you would probably get more people viewing your house online at £190K.

Ps we were advised it was worth £290k-£310 and like you we didn’t want to push for the higher price because £290k was reasonable and gave us enough in our budget to play with.

My house was on the market for £450k, we offered the asking price the day after the open day along with a few other people. We then offered more and got the house. It really depends on the market/house.

I offered asking price on mine as it had already been reduced a fair bit and I felt the new asking was fair based on sales nearby!

Whilst it does depend on the market, I have never ever offered asking price on a house.

Agreed it’s going to depend on the market and other properties available. We paid just over asking for our current house as it was popular and we really wanted it.

When we sold our previous property we were in a similar position to you where we could have put it on for £425 and tested the market but we wanted to sell quickly so went for £395 and I think ended up selling at £392. If you have a good agent they can make clear your position/ what you’re willing to accept to prospective buyers.

I agree that it depends on the market. I’ve paid asking or over for the homes I’ve lived in. I also accepted over asking on our last house - we put it on for a good price and there was a bidding war. We’ve now got a viewing lined up and I reckon we’re likely to offer full asking or over as we’ve been waiting for the right house to come up for almost 2 years.

Depends what a fair value is. Most stuff around my part of south east london seems overpriced by 5-20% so I would offer accordingly, although if it is 20 over then the sellers are usually deluded and dont entertain offers.
Stuff that is priced correctly goes within a week or 2 and I would presume very close to asking if not full asking

Yes, simply because if you have been looking for months and seen 15-20 not right properties and one right one comes up you arent going to lose if for a few grand. I want a house in that situation off the market immediately.

Thanks everyone! The market where we live is quite good, it's one of the few places that prices seem to have kept rising so I think we will go for 190 and hope we get asking but if we are being deluded we can always take a hint and accept less.

I bought this year, I was one of 4 offers above the asking price, it went to best and final offers. Depends on the local market and on the house itself!

We paid asking price for our current house. Market was moving quickly with houses selling within a day or two, we had a buyer for our house, and it was quite a unique property for the area in terms of size/garden for our budget. Yes we probably could have got it a couple of thousand cheaper, but we were sick of looking so wanted it off the market

Depends where you are in the country. Even in the current climate most houses near us go for asking price and sometimes more. Few go for much less, if any.

But it's always been like that here - in the past housed always went for a fair bit more than asking price. I remember Location Location Location or a similar programme several years back doing part of their show here, and they found it really strange not to be able to haggle down like normal.

I had my flat valued recently and was advised a list price of £200k for offers around £185k. The agent said all houses around here go for offers under so the reduction would be offset against the next move.