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Making an offer on a house with 'Offers In Excess Of'...
Comments
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Andyboymate wrote: »england
heard this went on in scotland? might be wrong on that. probably am
Common practice in Scotland for many years, becoming rarer now with a surveyor's valuation in the Home Report - which valuation is expected to form basis for the buyer's mortgage lending.
Still happening though.0 -
Depends if its on offers over because its already low to generate interest.
I was discussing doing offers over on mine and I certainly wouldn't accept anything under the offers over starting price.
As a cash buyer though I have offered slightly under by a few K's on repo's that say offers over. I have been outbid on every one.0 -
Andyboymate wrote: »hi, first time buyer here, seen a house i want, it has that stupid "offers in excess of" tag next to the price, which is 170,000.
Use this as a maximum figure to pay - why would anyone offer more? It does not make any sense to me.0 -
When_is_the_reset? wrote: »Use this as a maximum figure to pay - why would anyone offer more? It does not make any sense to me.
Depends on whether the £170K is deliberately low to encourage bidding. I see property all the time with one agent in Sheffield - Blu....lls who is renowned for putting houses on deliberately low to get sealed bids.
A friend of mine put theirs on last year with Reed Rains at offers between £220 and £230 - I immediately said no one will ofer any more than £220 in that case. It was SSTC at £235K0 -
Seen that too,
House on my street marketed for £30k less than the going rate, loads of interest, buyers getting carried away at "getting a bargain" and it went for more than the average in the end.:jProud mummy to a beautiful baby girl born 22/12/11 :j0 -
Andyboymate wrote: »essex, southend-ish. how about you? are we going for the same house, haha
what i was thinking lol, no its southwest in devon so nowhere near yours.. pheww
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Ive just had an offer accepted on a property which was advertised with a OIE price.....I offered £10k less than this price and it was accepted0
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