offer? - Confused - waste of time

mrsbounce

We have been on market for 6 weeks and just had a 2nd viewing, had long chat with the people they really want the house asked lots of questions etc, so Monday morning we get a call from agent saying they had made an offer but needed more details before putting this forward to us, we are on for offers in excess of 219950.

At 5pm I called agent to see if any further news and he said they had offered 200, I thought the minimum that could be offered would be the 219950??

Agent has rejected this on our behalf and now we are waiting to see if they come back with a sensible offer, we had already hinted what we were happy to accept and they seemed happy with this.

If you went to see somewhere with offers over would you still go in low?

So confused!!
thanks

poppysarah

You can of course ask for what price you want. If it's a genuine offer and they're able to proceed then turning it down (only offer in 6 weeks,out of how many viewings?) then you might be being very brave.

Depends how much you want to sell of course.

"Offers in excess of" are silly imo. No one would offer more and most people would chance their arm offering less.
If your house is so desirable then a standard asking price would elicit multiple offers and a bidding war. If it's not then it's just a waste of 4 words.

Arthritic_Toe

Anyone is at liberty to offer what they like - it is up to you whether you accept it or not. I've never really understood the 'offers over..' thing - unless there's a queue of buyers lining up to buy your house, why would anyone offer over the base price? I think you're taking it too literally - I always thought its just an estate agent trick to say, "here's the price, you need to be pretty close to it."

mrsbounce

Thanks for the replies

The agent advised us to do this as we would then be in the bracket for searches upto 220 when really we need a bit more than that, We are supposed to be going on with a new agent as from tomorrow at the same price, this selling a house is no fun!

poppysarah

Whether you *need* more or not is irrelevant.

Your house is worth what someone will pay for it and valuations are being downgraded at the moment.

skypie123_2

I think in this climate you're lucky to get an offer. I wish I could get one on my house! How many viewings have you had?

mrsbounce

The house was valued at 225-230 by 5 diff estate agents so dont think the price is the problem, oh well hope the people come back with another offer or we get new viewers.

mr_fishbulb

mrsbounce wrote: »

The agent advised us to do this as we would then be in the bracket for searches upto 220 when really we need a bit more than that,

And who searches for properties up to 220? I would guess a lot of people who can only afford up to that.

iB1

I agree with some of the posts above.

I'm looking at for a house at the moment, and I basically ignore all the "weasel words", such as "Guide Price", "Offers in excess of" etc. etc. If the house is on at 220K, then expect the initial offers to be around 200K. They're at liberty to offer what they like, just as you're at liberty to reject any offer you don't like.

mrsbounce

We have had 2 viewings, and 1 second viewing

skypie123_2

Wow thats great! I've had about 8 viewings so far. Was supposed to have one this morning but they got the time wrong and now want to come this afternoon so a wasted morning for me!
I hope your potential buyers come back with a better offer!