Estate agents and house prices

[Whatinthelord]

I went to view two properties today. One I’m very keen on but I am unsure about how to judge if the price is reasonable. It’s marketed for offers in excess of 375, but after we looked around and spoke about the work that needed to be done the estate agency told us 370-375 is what they’re looking for (rather than in excess of).

My question is….

1. are estate agency’s likely to say the sellers will only accept a price that is actually higher than they would accept (to try and get more money) or would they be fairly truthful?

2. what do people do to judge if a price they are offering is fair/reasonable for the house they want to offer on. I’ve looked at recent sold prices on right move but they only show as recent as April and the prices now seem to be higher.

When we had ours on the market it was offers in excess of. We ended up accepting a lot less as we'd seen a house we liked and just wanted rid of our old house, you never know peoples positions so always worth offering. If you really want it there's nothing to stop you increasing an offer.

We bought our house and the estate agent was very honest about the lowest offer the sellers would accept (house was going to be auctioned if no offer was made within the week) we offered that amount and it was accepted

It’s always worth putting an offer in, as long as it’s not so cheeky that it’s insulting.

@PaterPower

It’s always worth putting an offer in, as long as it’s not so cheeky that it’s insulting.

This.

Just offer 368 and see what happens.

People like to feel they've got a good deal. So they might come back and say they want more then feel happy when you pay 372.

It all depends if someone else wants it.

If you really want it, say 375 and please take off the market.