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Selling house- offers over does it work?
numpty2009
Posts: 54 Forumite
Our buyer pulled out this week a few days before we were all due to exchange. We now want to sell quickly so that we don't loose the house that we are (hopefully) buying.
We have a limit that we can't go under which is £10000 less than we're selling for. This is a small terrace so about 6-7% difference. We need to get viewers through the door. Is it best to price the house at our minimum with offers over or stay as we are and negotiate down. Our ea thinks that with offers over you still get silly offers which I can see her point I'm just not sure now dnd need to shift this house quick
Any ideas?
We have a limit that we can't go under which is £10000 less than we're selling for. This is a small terrace so about 6-7% difference. We need to get viewers through the door. Is it best to price the house at our minimum with offers over or stay as we are and negotiate down. Our ea thinks that with offers over you still get silly offers which I can see her point I'm just not sure now dnd need to shift this house quick
Any ideas?
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Comments
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I priced my flat at offers in excess of £200k, and received quite a few offers of £190k.
It sold for £205k.
The advantage was that it appeared in a different search bracket on rightmove so attracted much more interest.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
I put an offer in recently on a property that was prices as in excess of £300k. Original offer was 300 but they wouldn't settle for anything less than 312,500.0
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House the same as mine was up for Offers Over £129,950 last year,m. Sold for £129,950.0
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Brilliant thank you. At the mo I'll happily settle for our base figure just didn't want to only end up with offers below...worth a try I guess0
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As a buyer, this really irritates me, as does a price range. You advertise "offers over £100k" or "£100k to £120k", I will expect you to accept £100k and 1p. If you don't, then it's a lie.0
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A I said I would happily take the base price so it's not a lie. As in your example I'd take £100,000 but not £99,999.990
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I thought 'oo' was usually a Scottish thing? Are you in Scotland? I mentioned 'oo' to an English friend and they had never heard of it? ( I guess the username numpty might give it away ;-) )0
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I thought 'oo' was usually a Scottish thing? Are you in Scotland? I mentioned 'oo' to an English friend and they had never heard of it? ( I guess the username numpty might give it away ;-) )
No, we have Offers Over in England, along with Offers in the Range of (OIRO).
Offers Over is becoming more popular now the housing market has really taken off in some parts of the UK & many properties are selling far in excess of OO price.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
It's not a Scottish or English thing. It's a marketing thing.
Most people are influenced psychologically by the way the price of an item for sale is presented.
If you just have an asking price, it tends to be seen as the best price the vendor is hoping to get so a potential buyer be influenced to offer a bit less.
However, it the price is listed as "offers over" then it influences potential buyers to offer a bit more.
We think of prices relatively to boundaries and references, so a vendor should try to imprint a reference that suits him most in the buyer's mind.0 -
My flat was advertised as offers over and I got it for 5k less than that.Mortgage Apr 18 £417,894 BTL Mar 18 £162,857
Mortgage now -- £350,085 BTL now --- £162,6680
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