soonbethere

Is it generally like it is here, ie: do potential buyers usually place an offer around the asking price,or just go for the full asking?? Basically is there any room for a reduction if you feel a property is bit pricey compared to others around??

With the prices ever increasing it would be good to know if there is any bartering to do!! .

Thanks

ElshaUK

My Step Mother is an estate agent and my Father buys houses, does them up and then sells or rents them on so I feel qualified to answer this Q.

My Brother put his house on the market at $350K. Basically my SM valued it at $340k and knew he would be happy to accept that amount. She then added $10k to the price because it very rare that someone will offer the asking price. Most people offer an initial price, (sometimes a rediculous amount below the asking price) just to test the waters. The owners then say no, then the people interested make another offer, this time higher than the previous offer...or in some instances, the owners might say to the estate agent that they'd be prepared to accept $###k and then it is up to the offerers to make that offer if they are interested.

Anyway my Brother's house went on the market and without being advertised in the papers/online etc my SM booked some visits from her client base. She had 2 offers within the first hour and accepted one for the asking price of $350k. So my Brother was happy as it gave him $10k above what he was prepared to sell for!

You can barter....but generally it pays to not go too silly, especially the way the perth housing market is booming! You might make an offer that someone out offers you on, before you can barter back and forth...

My Dad has his house on sale for $549K - 2 Bedroom, 1 Study, 2 Lounge, 2 Bathroom - in Joondalup....ANYONE interested?????

Exile

Don't mean to be depressing, but in many areas in Perth at the moment people are offering over the asking price and often not getting the house as someone else will be offering even more. It's a sellers' market at the moment, with little room for bartering.

The interest rate rise will hopefully slow things down a bit, but it really has been ridiculous lately. Panic buying. It's not unusual for houses to be gone before the first home open for a lot more than the asking price. The peope who lost out then take an even more aggressive buying approach on the next house they like the look of. It's not sustainable, so might be worth waiting for things to calm down.

renth

What'a all this about bartering? Are you allowed to swap stuff for a house? I've got some old windsurfing equipment, do you think someone will trade for a house?

Exile

The way my house build is going, your fishing gear is probably worth more.

nightnurse2

If you've got a really nice boat aswell I might consider it!

Exile

If it's a Sunseeker Predator, you've got a deal.