Is it a Bargain? Or was it overvalued?

With one Agent having over 50 price reductions in two weeks, with reductions of up to £35,000 and many with £10,000 off the original asking price. We have to ask is the property market on a downward spiral? Or were the properties just over valued in the first place in order to gain the instruction?

There are many reasons why a seller may genuinely want to reduce the asking price of their home and there can be bargains to be found. Re-location, a bereavement or just someone who had no desperate rush to sell who stumbles upon their dream home and doesn’t want to miss out. Genuine reasons why an owner would reduce their asking price which could mean the chance for a bargain.

But! What if it’s not a bargain, What if it’s just a devious ploy by the Agent to gain a property instruction or to make the public believe it’s a bargain. “Start the price off high and reduce if you need to?” “We can get you more money.” There are many reasons they will give you, but once you have signed their terms you can rest assured they will be targeting you for a price reduction and quite probably a significant one at that.