House Sellers Accept Large Discounts
A new report from RICs suggests that house sellers are being forced to accept offers 9% below their asking price.With transactions at a 30 year low, the gap between the asking and selling price of a house or flat is widening. RICs expect this gap to widen asd the economic situation gets worse.
The largest gap between the asking and selling price is in the North of England where discounts average 12.5%.
The key here is to be realistic in what you think you house is now worth - it will certainly be less than last year and probably below what you would expect. This is particularly relevant if you are looking to sell your house quickly - if you have no time constraints, you might be able to hold out for a smaller discount - this is not going to happen if you need to move quickly.
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