Offers Over? All The Time?

Legacy_user

Hi all,

We're interested in buying a house that is on with express estate agent which looks like an online service.

Odd thing is that ALL their housing stock is on at "offers in excess of" - Does anyone know what this is about?

agrinnall

It's marketing, ignore it and offer what you think it is worth.

mrsmchapman

agrinnall wrote: »

It's marketing, ignore it and offer what you think it is worth.

Agree with above!

warwicktiger

Are you in Scotland?

System

House is in Yorkshire.

Does anyone know if my offer will be passed on even if its under the "offers in excess of" - house has been on market for 7 months and one has not sold in area for over 18 months so looking for a good price

jonewer

Estate agents are obliged to pass on all offers unless the vendor has specifically instructed them not to do so. If they dont pass on the offer, slip a note through the letter box of the house you wish to buy.

System

Thanks everyone

Tancred

PinkandPurpleGlitter wrote: »

Hi all,

We're interested in buying a house that is on with express estate agent which looks like an online service.

Odd thing is that ALL their housing stock is on at "offers in excess of" - Does anyone know what this is about?

What this means is simply that they are looking for offers above given set amounts. You can always offer less and cross your fingers, but this may mean that your offer gets ignored.

agrinnall

Tancred wrote: »

What this means is simply that they are looking for offers above given set amounts. You can always offer less and cross your fingers, but this may mean that your offer gets ignored.

This might be the case if it only applied to a proportion of properties on their books, but if they are doing it for all of them it suggests that it's simply a marketing device to differentiate them from other EAs. It may be that they have also deliberately set prices on all properties below valuation with the aim of achieving more, but that's a dangerous tactic as many people will look at the price as a target rather than a lower limit.

Yorkie1

Do a forum search for express. They are notorious for their practice of persuading the seller to put the house on the market for what looks like a relatively low value, with the expectation that buyers will fall over themselves to compete with much higher offers.

Sometimes it appears to work out for the seller, but often it leads to seriously hacked off prospective buyers because what the seller has been led to expect differs from what the buyer thinks the seller is after.

System

Have done a forum search and google search for express.

Would appreciate a view on my case:

House is a 10 year old, bed ben bailey thing. Been up for sale for 9 months. House on same close (188K) which is the exact same spec was on sale for 18 months and no joy (been taken off) This one is up for 165K and had been on since end sept

What would you offer?