offer? - Confused - waste of time

AbbieCadabra

mrsbounce wrote: »

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.

anything similar to yours been sold recently? asking prices are all well & good, but that's all they are, asking prices. no matter what any EA told me, it's sold prices i'd be looking at.

sonastin

One EA suggested the "offers over" trick to me but I wasn't convinced by it. My OH is dyslexic so doesn't waste his time figuring out the words - he just looks at the numbers. It made me realise that I don't really pay attention to how the price is introduced either - you would see £219950 and instinctively think "If I offer £200k, I might be able to get it for £210k" regardless of whether it is preceded by "offers over..." or even "would not even consider taking less than..." (which I've never seen btw, but would probably accidentally ignore nonetheless!)

Cissi

mrsbounce wrote: »

The house was valued at 225-230 by 5 diff estate agents so dont think the price is the problem

Sorry to be harsh, but I think the price is the problem. Only 2 viewings in 6 weeks suggests that even 220 is too much, otherwise you'd at least get viewers through the door. An initial offer of less than 10% below asking price isn't bad in this climate, hopefully you can negotiate them up a bit, but I don't think you have a prayer of getting the full 220, never mind more than that - sorry!

mrsbounce

thanks for your replies, houses have sold in last 6 mths for between 210 and 226, guess just have to hold out for more viewers and more offers

maya+2

In this market its probably to be expected, I have mine on at "offers in excess of 149", i'd be quite shocked if anyone actualy made a higher offer than 149, but I was hoping to discourage people from offering too far below the price. Basicaly I would like 150 for it and wanted to come up in the searches for people with a budget of 150, but I'm sure people will make lower offers initially

surreybased

Hi,

We've recently been through the house buying/selling process. I think 'offer over' discourage viewings as it sends the signal that the vendors won't negotiate. The place we're finally bought was put on for a very realistic asking price, attracted loads of interest and went for 20% over. Ive seen this a few times, if your area has lots of people looking then a house coming to the market with a good asking price will get lots of interest and viewings, invariably the price achieved will be higher.

I guess it depends if you really want to move, not sure if the market will improve, I doubt prices will be rising so if you're moving upwards perhaps you can lower the price knowing that the next house will also be cheaper.

AbbieCadabra

mrsbounce wrote: »

thanks for your replies, houses have sold in last 6 mths for between 210 and 226, guess just have to hold out for more viewers and more offers

& you are still wanting £220k? i would have to presume from your answer that prices in your area are still steady & not falling then?

sorry, but i think it is your price that's actually putting people off & just holding out for more viewings isn't the answer if you really want to sell.

just seen what Surreybased was posting at the same time & i agree 100% - offers over puts me off in the 1st place & if you reduce your price to be really competitive, it's more likely to get interest & a potential bidding frenzy! just because you reduce your price, it doesn't mean you have to accept lower offers, but it will give you an indication at just what price people are wanting to pay at the moment.

Yakubu22

Why wasn't the original offer "sensible"? What you "want out of it" is of no concern to the buyer. They just want your house at a fair price.

jonewer

"Offers in excess of" is just a gimmick used by estate agents. I suspect mainly to pacify vendors who want more than their house is worth....

Soot2006

We didn't bother viewing houses with "offers over" unless the EA indicated from the start that the vendors didn't mean it.
It made me worry the vendors would be too difficult and I didn't feel I had the emotional strength to deal with even more difficulties than house buying was already giving us in general.
A lot of houses we viewed were advertised "offers in the region of" and I thought that was pretty daft as well .... I prefer the straightforward approach. Vendor says: I want £200k. Buy says: I think it's worth £180k ... Let's talk about it .... I need to know what someone actually WANTS before I can decide how much I want to offer.