offers over....

swindiff

My last house purchase was offers over £166,500. My first offer was £160k, I purchased for £165k.

lydriver

thanks all

was previously looking in area where flats sold very fast and often for more than the HR value so was a bit strange with this being the opposite!

ellie27

Advertised at offers over £90k and been on for over 3 months suggests to me they are not getting offers over £90k so I would be offering under £90k as a starting point and then going from there.

I am in Glasgow and have been watching the property market in my area for the last year and a half and most are selling under HR valuation.

The house we bought 9 months ago was advertised at offers over £320k, then 4 months later went to offers over £295k, we bought for £298k. HR £360k

System

the offers over system is only a problem if it goes to a closing date, just make sure when you make an offer that it would be withdrawn if not accepted by 12 the following day or if a closing date was set.
Nothing to stop a low offer, some estate agents put drop the offers over price to try and get some more interest so they can get a couple of folk bidding.
Bid what you feel it's worth

Grenage

Offers over, guide price, fixed price - ignore whatever term has been plucked out of the air; just offer what you think you can get away with.

The property we are currently buying was 'offers over x', and we offered x+1k - they accepted the offer. Could I have got away with x, or less? Possibly. The other half liked the house and I was tired of raises and counter-bids - seemed like a fair price.