The Seller Wants More Than The Asking Price

mootee

We've been looking to move for a while and have visited a number of houses. This morning a new one popped up on Zoopla so we contacted the estate agent to arrange a booking. The estate agent informed us that the seller wants more than the asking price.

I find this rather strange. I don't know when the house was first listed with the agent but it has only appeared on Zoopla today. Why on earth expect more than is being asked? I've never come across this before, has any one else?

maninthestreet

Does the Zoopla entry state 'offers over....' ???

mootee

Hi maninthestreet

No Zoople has just the price, however I've just checked the estate agents own site and have noticed it does say "offers over". I guess they must be confident that they will get a lot of interest.

PixelPound

Sometimes a low price is done to attract offers. It depends on what you think the house is worth.

mootee

Thanks nic_c

I should've checked the original estate agents site more carefully, I didn't see that initially.

thriftylass

That's the up here system here anyway. Maybe the price represents the minimum of what the seller needs to cover mortgage, costs etc. So hence offers over. Other wise I guess he would have put it on for 20k to receive at least what he needs? But that would attract less interest?

pinkteapot

Does the asking price look cheap compared to other things you've viewed?

It may just be that the seller wants asking price and the EA is trying to put people off who are planning to make low offers.

fdavidson

Be glad you aren't in Scotland - properties near-on NEVER sell for the asking price! Try adding on about 20k and you're nearer the price they're really after... Really shakes your expectations when you're a FTB here!

stator

Most of what estate agents tell you is just a con to stop you making low offers.

By asking for 'offers over' they want to stop you making offers under the asking price.

eddddy

mootee wrote: »

This morning a new one popped up on Zoopla so we contacted the estate agent to arrange a booking. The estate agent informed us that the seller wants more than the asking price.

I guess it's good of the EA to warn you.

Had you viewed it, offered full price, and then been told it wasn't enough - you might have been annoyed that your time had been wasted.

The_Angry_Jock

fdavidson wrote: »

Be glad you aren't in Scotland - properties near-on NEVER sell for the asking price! Try adding on about 20k and you're nearer the price they're really after... Really shakes your expectations when you're a FTB here!

I'm going through this just now, I'm seeing houses with seller expectations of £50k over offers price, I'm talking offers prices of £175k!! It's insane, especially when the house is needing another £50k worth of work done.

The house we're about to exchange on was £15k over offer price, I thought we did well there (it's round the corner, larger and cheaper then the example I gave).