Re: Do people usually bid the asking price

I don't think you should necessarily be afraid to bid lower than asking. It depends on a lot of variables.

Factors like how quickly the seller wants out, how quickly you can close, how long its been on the market, if there have been any price adjustments, where it is (Suffolk houses seem to still go for under asking often), if there are other offers, all affect what you should bid.

Of the 5 bids we've put in so far, 2 were accepted under asking, and 2 were countered for prices under asking. The 5th one, they went with a different buyer. For various reasons, we still don't have a house though...

Also, you can always start low and then raise your bid if its not accepted...