Agents listings like these

Wig

I am wondering about these types of listings
http://www.rightmove.co.uk/property-for-sale/property-38780764.html
If anyone has property bee can you tell me it's price history? And was the message always been "we have had an offer"? When did the message change?

It is undervalued -but only in the sense that others on the same road are priced much higher- I happen to think this value is correct in todays market.

It's like the house is for sale by mortgage co. and they price it low to encourage interest and a quick sale. But then they put out this message "we have had an offer...."

My thoughts are:
Have they really had an offer or could that be a lie to get people to bid?
It doesn't say they have accepted the offer, another trick to get people to bid.?
But if the asking price is £75K why did they get an offer of £76K and why wouldn't it be accepted?
What price would have to be bid in order to get them to stop the existing sale? 77K?

Excited13

23 May 2013

• Brief Description changed: ER=F. Arranged over four floors, a substantial period 29 Broadway Treforest Pontypridd CF37 1BD We are acting in the sale of the above property that is ideally located both for access to the town centre and the nearby university. The generous accommodation comprises; entrance hall, two reception rooms, to the lower ground floor is a kitchen and bathroom, to the first floor ar...and have received an offer of £76.000 Any interested parties must submit any higher offers in writing to the selling agent before an exchange of contracts takes place

12 May 2013

• Brief Description changed: ER=F. Arranged over four floors, a substantial period property that is ideally located both for access to the town centre and the nearby university. The generous accommodation comprises; entrance hall, two reception rooms, to the lower ground floor is a kitchen and bathroom, to the first floor are two ...ar...

04 May 2013

• Initial entry found.

[Deleted User]

I forget which type of sale but there are sales that have to achieve the highest price, I think it's when the sale is part of a deceased persons estate.

If that is the case I would guess that they believe the value to be £76k and a beneficiary of the estate wishes to purchase the property and has offered the £76k but they need to find out if anyone will pay more?

Probably not a lie, seems very much like fraud if they were to say that and it wasn't true.

SG27

They are repossessions. Offers have to be advertised like that for a minimum of 7 days or until exchange of contracts.

monty-doggy

I agree it's 100% a repossession. They are bound by law to get the highest price so beware making an offer as you can get out bid even just hours before completion and lose a lot of money! There are insurances you can get to protect your outlay usually costing around £50.