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"Offers in Excess of"
Comments
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Q: "Are you looking to buy in Scotland?"
A: "No - why do you ask?"
...because 'Offers Over' or 'Offers in Excess of' is a standard part of the house-buying process in Scotland, but less of a standard in E&W.0 -
tommie1shunt wrote: »Got to agree with Pancake, buyers market offer what you feel it,s worth. They can only say no, and cross you of the christmas card list.
How is it a buyers market? What rubbish.0 -
I don't get the offers in excess of thing, we looked at a house that was offers over but the EA told us they'd accept 5 grand less than that price so why even state Offers over?0
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My own opinion of the "offers in excess of" line is that it is a total waste of time and is actually more inclined to dissuade me from viewing a property.
There is a house we have had our eyes on for a while, which had been up for over a year at £230k. The seller recently changed the listing to "offer in excess of £220k," which to me seems a total waste of time.
When it comes to us putting in offers I will start at 10% off the selling price, regardless of what the line before it says.
Seems a total waste of time to me?My debts at 11th April 2011:
Virgin Credit Card - [STRIKE]£1,900[/STRIKE] £1,500 (21.1% paid off)
Nationwide Authorised OD - [STRIKE]£2,000 [/STRIKE] £1,500 (25% paid off)
Student Loan - exact amount TBC but circa £5,000
I'm on the road! :T0 -
bristolben wrote: »How is it a buyers market? What rubbish.
How is it not a buyers market? Last year 41% of homes marketed sold and this year looks likely to be 'worse'. If, as a buyer, you have the cash/mortgage lined up, you're in an extremely strong position.
If I was buying, I'd completely ignore any property that has 'offers in excess of' - a clear sign that the vendors are unrealistic.0 -
I guess its psychological-if you get a house which is offers in excess of £200,000 for £195,000 you feel it is a bargain where as offers in the region of £200,000 and you only get it for £195,000 you wouldn't feel you had got much knocked down on the price0
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Your on drugs if you think otherwise, pre June 2007 it was a sellers market, now it is a buyers market. I speak as both a seller and buyer in the present climate. I have noticed now if you view a property the EA will ring up later and more often as not say do you want to put an offer in? No mention of the asking price. Our present house is priced down by 25% from the peak of the housing boom. And yes we have had the stupid, are you desperate offers. We are in the privileged position we are not desperate to sell. It,s tough to sell out there, and if your finances are in position the bargains are out there.bristolben wrote: »How is it a buyers market? What rubbish.0 -
tommie1shunt wrote: »Your on drugs if you think otherwise, pre June 2007 it was a sellers market, now it is a buyers market. I speak as both a seller and buyer in the present climate. I have noticed now if you view a property the EA will ring up later and more often as not say do you want to put an offer in? No mention of the asking price. Our present house is priced down by 25% from the peak of the housing boom. And yes we have had the stupid, are you desperate offers. We are in the privileged position we are not desperate to sell. It,s tough to sell out there, and if your finances are in position the bargains are out there.
buyer's market
Definition
A market which has more sellers than buyers. Low prices result from this excess of supply over demand. also called soft market. opposite of seller's market.
We are not in a buyers market. We do not have more sellers than buyers. Stock is incredibly low right now.0 -
bristolben wrote: »buyer's market
Definition
A market which has more sellers than buyers. Low prices result from this excess of supply over demand. also called soft market. opposite of seller's market.
We are not in a buyers market. We do not have more sellers than buyers. Stock is incredibly low right now.
Right thats it am going getting my handbag0 -
Personally, I never view houses priced OIEO, I like a straight forward, realistic asking price.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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