"Offers in Excess of"

bristolben

tommie1shunt wrote: »

Right thats it am going getting my handbag

I've got my pram and my toys ready to throw!

new_home_owner_3

I was thinking about this and by me theres a house for sale with these people.

http://www.expressestateagency.co.uk/viewproperties.php?WCI=Results&ShowSTC=ON&EAID=1047&PERPAGE=5&xslt=1&PriceOrder=Desc&PAGE=

more or less all of their properties are up for sale with massive discounts and they all say offers in excess of.

The house in question i seen was advertised at offers in excess of 149,000, now i know this house was advertised earlier this year at 200,000.

now this was on for about a week and then the vendors told them to raise the price to 189,000 pounds, this was because they had no intention of selling anywhere near the 149,000 pound market and more likely wanted 190,000 pounds.

i think when buyers seen the price of 149.000 pound they inundated the agent with enquiries.

Now i think it may be okay putting the price 20,000 pound less and asking for offers in excess, as i think this would drum up a lot of interest and people look at this being too much of a good bargain to not take a look.

But when there asking for offer in excess and the price is 50,000 pound less than what they are willing to accept its a joke.

I think if i market my house again ill definately use the offer in excess off, i will price mine so people think that its a real bargain at that price i wonder how much over they will accept.

to the people who say i would never view a house with offers in excess of, ask yourselves this if you was looking at 3 bed room house that was advertised for offers in the region of 180,000 and two doors up there was a house exactly the same advertised at offers in excess of 150,000, which would you view?

or would you say i aint gonna bother with the one that says offer in excess of?

i think i know the answer........;)

harrup

new_home_owner wrote: »

I think if i market my house again ill definately use the offer in excess off, i will price mine so people think that its a real bargain at that price i wonder how much over they will accept.

to the people who say i would never view a house with offers in excess of, ask yourselves this if you was looking at 3 bed room house that was advertised for offers in the region of 180,000 and two doors up there was a house exactly the same advertised at offers in excess of 150,000, which would you view?

or would you say i aint gonna bother with the one that says offer in excess of?

i think i know the answer........;)

Interesting.


Personally I would go and see...... both.

And then offer 150500 on the first one. Which is likely NOT what the seller had in mind but, owing to the OIEO, to me 150K is the least they would accept.

I may up this until aprox 157 K after which I would get really hacked off if my offers were refused unless the house was incredibly dreamy. If they wanted more than that, why didn't they put it on for 178K or something and said "no offers"?

From a sales psychology view point OIEO are a dead stick. No one wants to pay MORE than the figure they see on the details. True, there ARE houses for which this method works well and a feverish bidding war ensues, but those houses have something very unique or special to offer. This isn't applicable to say, a house on an estate which has 10 -30 identical houses nearby.

suki1001

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.

And that's why we have such a buoyant market? Houses selling like hotcakes? Tell that to everyone whose house is on the market. I'm sure they'd like to know where all these buyers are. Or at least buyers who can get the finance.