Guide price

[Nerdygirl]

Hi we have seen a property we like and whilst I was hoping the next move would be our forever home this may be a stepping stone house for a number of reasons . Anyway it ticks all our boxes with space, location and in immaculate condition. It’s priced at a guide price, and I wanted some thoughts on what is generally expected with guide prices . Is it offers in the region of ? Are they typcially going over ? What is the rationale for using guide prices ? Any advice would be welcomed . Thanks

Thanks

I just ignore any of the 'in excess of' or 'in the region of'. Just offer what it is worth to you, generally a bit under (unless you are in Scotland). Unless you are in a real hitspot with things flying off, then go a bit under see what they say (so for a house at £300k, I'd be thinking of offering, after research, around £280k.

As poster above, I'd go with just offering whatever you think it's worth. We viewed our house 24 hours after it came to the market. It was "guide price £495,000", we offered £450,000 as it was blatantly overpriced to our eyes and our offer wsd accepted. Turns out they were just chancing to see if they could get a high price but were just happy to sell!

I'd interpret it as less willing to negotiate on price, but not necessarily expecting over it. We dropped the price of our house and wanted to put "Offers in excess of" the minimum we had in mind, but our estate agent said that buyers find OIEO offputting and advised us to say "Guide price" instead.