How much?
What way is the wind blowing?
There are many things to consider when offered a range – is it realistic? Is it above/below what you believe the property is worth (after reviewing recent comparable sales). Do you own the adjoining block? How good a negotiator are you/your buyers agent? What terms are you buying on (delayed settlement/subject to xyz/vendor finance/subject to tenancies etc). Is it a rising or falling market? Is the purchaser eligible for FHBG/stamp duty concessions? What is the zoning? What does the LEP say?
It is not as simple as saying it is on the market for $535k neg.
The reason I ask is becasue I have been to two opens for properties due to go to auction-both quoted at being around 5-550k, I have a bet with my wife that they will both go over $600k. If we can get either for under this price I will be happy.
Hence my question-is it now just a generally accepted rule that the final price will be 10% on top of the upper quoted limit?
if it is an auction I reckon $720 k as that seems to be what is happening in Melbourne auctions
For many inner city Sydney properties, I'd be expecting sale within 10% of the guide otherwise, the agent is not being honest (ha ha) with the punters.
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