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Market Conditions Allow Buyers To Offer Below Asking Price
Buyers should not be afraid to enter a bid below the asking price of property for sale this year, as market conditions stand in their favour.
David Marshall, head of business developmentat Edinburgh Solicitors' Property Centre, predicted that prices are likely to remain "broadly unchanged" in 2012, although the volume of sales will pick up slightly.
Writing for Scotland on Sunday, he explained: "If you're looking to buy, the best advice is to use market conditions to your advantage because the balance of power is very much in your favour.
"Once you find somewhere, don't be afraid to go in with a slightly lower offer."
He predicted family homes will "fare comparatively well", as buyers looking for these properties often have improved access to mortgage finance, with conditions tougher for those looking for smaller properties for sale.
Recent figures from the Bank of Scotland suggested over three-quarters of local authority districts are considered to be affordable for first time buyers, compared to just 31 per cent at the peak of the housing market in 2007.
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Notes for Editors:
Article date: 1/5/2012 12:00:00 AM