Is marketing my property as offers over, really worth it?

Tuscan

i agree with the above, makes it sound like an auction.

we sold ours with a guide price of 240-250 and it sold at 245 within a day at the price we where hoping for. if we had put it on at 245k it wouldnt have shown up on rightmove when people searched with a 240k maxium

stator

If my budget is £100k I wouldn't bother looking at houses that are "Offers over £110k" but I might look at houses that are just £110k or OIRO £110k.

So it depends what you want, if you have a price set and you 100% won't go below that price then by all means put "Offers over". It will stop people wasting their time.
But if you want to attract buyers who might be interested at a price below your asking price then definitely don't do it.

clarky_cat

As a buyer it puts me off too, would rather just see a value. Much prefer to see OIRO

Mocha61

Curious49 wrote: »

I'm selling my house and have been advised to market it as a fixed price or offers over. I can see the logic in terms of not receiving really low offers I don't want to accept. However I don't want to put buyers off. Has anyone done this? Did it take longer to sell your house as a result?

Thanks!

My daughter put her house on at offers over, the estate Agents continually arranged viewings for people who couldnt afford it, so tbh i dont think it makes a difference. In the end they ended contract with estate agents and used another one.

PJ_BEES

From recent experience as a seller it was a good thing as it turned into a bit of a bidding war for my property and therefore resulted in a much higher price than we expected to achieve.

However maybe we just got lucky !!

goodwithsaving

PJ_BEES wrote: »

From recent experience as a seller it was a good thing as it turned into a bit of a bidding war for my property and therefore resulted in a much higher price than we expected to achieve.

However maybe we just got lucky !!

The exact reason why FTBs are finding it harder and harder. I don't blame you, but think this is exactly what is wrong with the market.

Rollinghills

goodwithsaving wrote: »

The exact reason why FTBs are finding it harder and harder. I don't blame you, but think this is exactly what is wrong with the market.

That is not a logical conclusion! Maybe the property was very well priced, thus attracting a lot of interest. Nothing wrong with the market in that sense. Yes, it's hard for ftb's but what determines house prices is a complex set of variables, not whether a seller puts 'offers over' or not when selling.

bris

It depends where you are and how highly sought after your property is. In a popular area you would be mad not to do O/O, people want it they are willing to pay.


If you are in a regular area that is sellable but not got people falling over themselves for it then just stick it at the price you want for it.


In Scotland during the boom time you were very lucky to see a fixed priced property anywhere, they were all O/O. The idea is to do a low O/O price to generate huge interest then go to a closing date. It's this system that lead to properties making 20-50% and more over asking. But we all know where that lead.

wwpaddler

It depends on your house and the area it's in. We've just sold a house where the highest sold price in the area was 114k but the house we were selling was unique in the area so difficult for estate agent to value. If your house is unique then OO is a way to let the market set the value. We advertised at OO 120k and had 10 offers within 2 weeks and exchanged at nearly 140k. There are still normal houses in that area on the market for 120-125k which aren't shifting.

If your house is difficult to value for some reason then I'd recommend going OO.

topsales

Have my house on the market in Scotland at the moment and have been advised fixed price as it is in a rural area with not much interest, However, in the cities, offers over has once again become the way to go.