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"Offers in Excess of £x"
Comments
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The price of anything is set by the buyer. By saying OIEO, the vendor is trying to dictate his price Avoid like the plague, you know the vendor is an ar$s hole, so dont bother.
I'm actually shocked by your comment. Care to expand on your experiance with OIEO which left you with the above sentiments. Also if there is anyone else who thinks this way could you also post why. My house is about to go on the market using OIEO and if there are a few ppl who think this way I'll change it to 'in the region of'0 -
The price of anything is set by the buyer. By saying OIEO, the vendor is trying to dictate his price Avoid like the plague, you know the vendor is an ar$s hole, so dont bother.
I'm also fairly offended by this as well!
Our house was very unique, but also fairly dilapidated, so we set it at OIEO 90k to get a feel for the market. We left it on the open market for two weeks, then went back to everyone that had viewed to make a best and final offer by a certain date. We then accepted the best (not the highest) offer, took it off the market and it is proceeding like a normal sale.
I'm sure some people abuse this form of buying a house, but I doubt the majority of people do.0 -
Don't be offended people - just don't be greedy.
What price do you want for your property ???
Come clean with purchasers and tell them your asking price0 -
I don't see why it becomes more of an auction, with prices rising from the OIEO price. I was thinking of marketing our house like this, as I know I want a certain price for it, because that makes our move do-able. My OIEO price was to be 2.5k below what EAs have said we should list it for, as I think they're being optimistic. I have no desire to hold on for more and more money.
I can't see the need for people to be against this in such an agressive way - only makes them look stupid, frankly!Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0 -
Don't see the point anymore in offering advice to people who only want to be agreed with...0 -
Well since I asked the question in the first place I may as well give my opinion. OIEO puts me off and I am sure it would many others. As people say it is only worth what people want to pay for it or think it it worth, what you think it is worth is not actually what it's worth may be.
I am going to offer below anyway, just becasue of the amount of work involved and that fact I think its worth £5k less than advertised.
IMO buyers should ask for a price and expect offers both below and above, if the price is not what they had in mind they could always tell the buyer when they place an offer it is not to your liking. That way people will at least offer to buy. With OIEO I think you may loose a lot of interest whether it be serious or not.
L.0 -
Good luck to you cavester !
:beer:
If the offer is accepted, make sure they take it off the market straightaway, and have a friend call up expressing interest in the property to test if they're playing ball.
I'd definitely be put off by OIEO - if the buyer wants a certain price, why not ask for it, rather than praying for a bidding frenzy among vendors to push the price ever higher0 -
I agree that it's offputting - in our area of Manchester Bridgefords do it on all of their properties, frustrating isn't the word and I wouldn't (personally) use it to sell my own property. If I went to buy a sofa and the sign said OIEO I'd be like
how much then? - daft. 0 -
nollag2006 wrote: »Don't be offended people - just don't be greedy.
What price do you want for your property ???
Come clean with purchasers and tell them your asking price
Try living in Scotland
It is offers over and often set around 25% over the price stated. It is in sealed bids and you have to do surveys before you make an offer unless it is subject to survey.
If you have a survey done and lose, it is £200 wasted.
The only good thing is you don't get gazumped once the missives are exchanged.
I was bought up on the English system and it took some getting used to up here.
It sounds like the 'in excess of' is like the 'offers over' but with the worst of the possible English gazumping after it has been agreed.An average day in my life:hello: :eek::mad: :coffee::coffee::coffee::T
:rotfl: :rotfl: 
:eek::mad: :beer:
I am no expert in property but have lived in many types of homes, in many locations and can only talk from experience.0 -
Sad, but true CCStar !0
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