Discounts From Asking Prices - BMV Property Investment Deals

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Discounts From Asking Prices

Blog and News - BMV Property

Written by John Angeletta

Tuesday, 21 February 2012 10:53

More than one-third of UK property currently for sale has had the asking price cut at least once during the past year with the average discount now around *7.5%.

This means the average reduction from the original asking price is a £1,000 greater than this time last year.

On a popular estate agency website, the better discounted properties are in Glasgow, Blackpool and Maidstone with Stockport having the highest proportion of discounted properties.

Nicholas Leeming of Zoopla.co.uk says, The current average discount of £19,580 is a new high indicating that sellers have come to terms with the market realities. Pricing correctly remains key when selling a home and whilst there is a shortage of sale stock currently, buyers are more discerning and more informed than ever before ... Serious sellers must do their homework and follow the advice of their agent before settling on an asking price, otherwise they may well find their property on the market for longer than they’d hoped.

By comparison to Estate Agency websites, genuine Below Market Value discounts typically attracts **25% off open market value.

So, a similar £100,000 property would be sold by an estate agent at £92,500, or via a BMV agent for £75,000. You choose!

Call John on 0203 239 4359 to explore your safe BMV opportunity.

*source zoopla

** regional variation applies

STOP PRESS STOP PRESS

Gross mortgage lending in January rose 10% year-on-year to £10.5bn as market sentiment improved, but was down 14% on December’s total of £12.2bn, according to the CML.

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