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Offer Price Advice
Comments
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It depends a lot how long the house has been on the market for. I lost out on a house I loved that had just come on the market because there were many viewers and someone bid £5k OVER the asking price. If the property has been around for weeks or months you're safe to try a lower offer.0
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I wouldn't t buy a house next to traffic lights for £8k let alone £80k. Offer low. If only because you'll have the same issue when you sell0
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NaughtiusMaximus wrote: »I agree. Likewise if I was to list a house as 'offers in excess of' and someone came in with an offer of 5k below that price, I would think '!!!!!! can't you read?' and dismiss them as a timewaster.
That's just stupid. They could easily come back with an asking price or over asking price offer as the second one.
Everyone with a couple of braincells to rub together knows that OIEO is just EA speak and totally meaningless.Thinking critically since 1996....0 -
somethingcorporate wrote: »That's just stupid. They could easily come back with an asking price or over asking price offer as the second one.
Everyone with a couple of braincells to rub together knows that OIEO is just EA speak and totally meaningless.
I don't like OIEO anyway and can't see a circumstance when I'd use it on a property I'm selling, but IF I did it would be because I meant exactly that. I'm not interested in dealing with someone who's going to mess me around and waste my time.0 -
But you don't really get to value your house unless it's hugely popular in which case people will be willing to pay 'OIEO'. If it's sat on the market for a few months at OIEO, then I certainly wouldn't be offering over. It's worth what someone will pay. Maybe you'll strike lucky and find someone who loves it so much they're willing to pay over, but it's unlikely if nobody else has wanted it over the last few months.NaughtiusMaximus wrote: »I don't like OIEO anyway and can't see a circumstance when I'd use it on a property I'm selling, but IF I did it would be because I meant exactly that. I'm not interested in dealing with someone who's going to mess me around and waste my time.
Four weeks, yeah try OIEO. But I think once you're past that (at a push), it's more like wishful thinking on the vendor's part.2024 wins: *must start comping again!*0 -
NaughtiusMaximus wrote: »I don't like OIEO anyway and can't see a circumstance when I'd use it on a property I'm selling, but IF I did it would be because I meant exactly that. I'm not interested in dealing with someone who's going to mess me around and waste my time.
I can understand that but if you think any buyers take it seriously then you are going to lose out on a lot of potential buyers!!
Especially if an initial offer is within £5k of the price - that's a great starting offer! My initial offers are always 10% off asking....Thinking critically since 1996....0 -
If it's sat on the market for a few months at OIEO, then I certainly wouldn't be offering over. It's worth what someone will pay.
That's a fair comment, if it's been on the market for months an offer below isn't unreasonable, my initial comment was based on the assumption the property was recently listed.somethingcorporate wrote: »I can understand that but if you think any buyers take it seriously then you are going to lose out on a lot of potential buyers!!
....which is one of the reason I would never personally use OIEO for a property of mine anyway, my comment was based on hypotheticals and personal opinion.0 -
I've offered £235k, so 6% below.
Will see how that goes.0 -
I wouldn't deal with anyone who messed me about with multiple low offers.
Well, I wouldn't buy your house then. Your loss really in this market.
The house I bought in June, I started by offering £340k on asking price of £395k. Multiple phone calls back and fourth over the next 20 minutes and we got it for 365k, well below the maximum we would have paid. It was the third property we'd played this game with. The others weren't interested. But there is always another house.
You only get what you ask for.0 -
How did the offer go down?0
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