House Sales - Asking Price Negotiations
It is not only falling house prices which homeowners have to be wary of. Even in a stable market, negotiations take place and buyers rarely pay the full asking price for properties. Naturally, in an uncertain and declining market, buyers are even less inclined to pay the asking price and, in most cases, negotiate very heavily. Again, the problems stem from the buyers’ market; with a lack of buyers, those who are able to follow through with a purchase are in a strong position and are able to make low offers in order to take advantage of the situation.
As Hometrack’s graph shows, the percentage of asking price being paid has been decreasing recently and we are lucky if buyers are paying more than 92%. Homeowners who have been given inflated figures by Estate Agents face steeper drops and even more disappointment as unrealistic starting figures need to be adjusted and even then achieving the full asking price is virtually impossible. It is predicted that the recent sharp declines in the percentage of asking price being paid are only the first wave of decreases which are to characterise the latter part of 2011 moving into 2012. Those lucky enough to find a sale may be seeing even lower offers, reluctant buyers, longer timescales for sale and a higher risk of sale abortions.
The UK’s leading home purchase specialist, Quick Move Now, is in the unique position of being able to offer vendors a cash sale without the frustrations and delays often experienced on the open market or via other routes such as auction. Having cash funds means that we do not need mortgage funding and do not rely on investor buyers: we are the cash buyers purchasing directly from clients. Whatever the situation, Quick Move Now can help and offer a flexible, professional service which is unrivalled.
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