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26 Aug 18
19:26
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23 May 09
As rule of thumb is it fair to say on average the buying/selling price is normally 10% of the asking price?
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No.
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Purple Bricks don`t take anything of the final selling price as far as I know.
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I haven't tried a Google search but I would imagine there is some data out there on sales vs asking prices.
You can definitely check the sales price of any property on Zoopla and Rightmove. |
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So what you are saying is that if the asking price is £350,000 the selling price would only be £35,000....
Can't believe that, unless you are talking about "Ghost" developments in Ireland! |
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cant believe this got 3 serious answers,
do you mean if a house,s asking price is 300 grand ,they want 30 grand,shirely not,  or do you mean if a house is sold for 300 grand it costs 30 grand in fees etc to buy it, shirely not, ,or do you mean the buying selling prices is within 10% of the asking price but left the word within out, I,m deffo , com |
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If it’s 100,000 it will sell for that price plus or minus 10%
Yes , usually |
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That’s the correct answer to the question
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except of course when your selling your own when everybody says they got the asking price or a little bit more,
 ,hang on that means everyone gets the asking price, I,m . com again |
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very true : )
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Can't believe the plus or minus 10%!
There can't be many properties that sell for %10 plus! |
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I offered the asking price for my place (under priced)...the Estate Agent seemed confused about what to do, didn't want to tell the vendor straightaway in case they thought he'd undervalued it (he had).
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Places aren't going for 10% less than the asking price round here.
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thar you go
no doubt the baron not only no,s better than the estate agents pricing the property he bought ,he probably sold his own at a higher price than the estate agent set it at, worlds full of them don't you just love,m, |
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Thank you for recognising my genius, however I do have to give some credit to Zoopla which told me the price of identical properties in the same building.
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and you think vendors,fellow buyers,BTL,ERS, property speculators don't use zoopla or only you in the whole house buying business spotted a bargin, well done
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Last 2 houses we sold we knocked 2% off the asking price but only because they were chain free
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first flat I bought - knocked on wrong door
gran " it's the door opposite that's selling , shes want to sell quickly because of attempted burglary " me " thx" offered below fixed price nice area accepted the same day |
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Must of been an very attractive Gran
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and you think vendors,fellow buyers,BTL,ERS, property speculators don't use zoopla or only you in the whole house buying business spotted a bargin, well done I've heard a rumour that others do but they're obviously as smart as the idiot posing as my local property expert. It also helps if you are the first to view 2 hours after it was advertised. |
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Ours was priced up by 3 different estate agents at 420k
Sold at 384 so in our case the 10% is about right |
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Going back a bit but every time I've bought or sold a property (5 times) it's been within 1-2% of the asking price if not the asking price. Who the feck accepts 10% under? Have to be on the market for ages and stupidly over priced.
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Current house we purchased was on the market for £250k. We asked for a 2nd viewing and bought with us a surveyor, whom the estate agent knew, and showed we were very serious buyers. We offered £240k and it was rejected. The house was vacant and owned by the church and in the end we had to offer the asking price to get it, which was later reduced by just over £2k for the cost of repairs. As far as I can remember we got the asking price for the property we were selling. Timing plays a huge part. When prices are rising it's power to the seller. If they are falling then as a buyer you have a lot of leverage.
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At the beginning of 2017 I had a brief look at buying a second property in Durham as a student rental. I can recall trawling through Zoopla and the like looking at every property for sale or rent on and off for a month, and sale prices of sold properties. Many on sale were unsold for months. Then a property came up for sale that fitted the bill that I was looking for based on location, layout and price. I rang up the estate agent to arrange a viewing, I live 200 miles away, to be told that it had already been sold, but they were happy to arrange a viewing. I asked if they'd offered the asking price and they said yes at which point I said I'm not interested then. Either the estate agent was playing games with me or I'd be in a bidding war. So the thing is if a property is competitively priced it will sell for the asking price or very near to it, whatever the market.
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As you say..timing is everything.Had we put our house on the market a year earlier we would have sold at 420k within days.Just before Christmas last year prices in this area (Essex) began to level off and by the end of January were on the decline.The housing market was suddenly flooded with similar properties to our own and we quickly realised this and dropped our price accordingly.Plenty of homeowners are reluctant to take less than in what they believe their property is worth.That is backed up by the stream of unsold houses in the estate agents windows in this area.
Just as an aside we wasted 860 quid by first of all going with Yopa..an online agent.Without the aggressive marketing by our high st agent we would still be looking for a buyer.You get what you pay for imo. |