House offer prices

Bill23h

Why did you ask for 'offers over..'? Just decide on a price, possibly slightly inflated so you can play along with those for whom it's a point of honour to get a few grand off. From a buyer's point of view, "offers over...." looks greedy and implies you're fighting buyers off ("come on, more..more!), rather than asking them to consider buying your house. You say " it's not like there was a justified reason for such a big discount" - but what would be the justified reason for you wanting more than the asking price?

Simby

It depends on how hot the market is too.. if the seller has multiple viewers and are confident of obtaining their desired price then they are unlikely to accept a lower offer

If on the other hand it’s a slow market, limited viewing on the market a while then the seller may accept a discounted offer

I would look at properties 10 percent over what I wanted to pat in a slow market but in a really hot market the reverse is true,

ashfan83

Bill23h that's not what this post was asking about, but we set the price guided by the estate agent. We didn't just pluck it out of thin air.

lookstraightahead

If I see 'offers over' I either ignore it or don't bother going to look at the property (even if I can afford it). I hate the arrogance of it (sorry op not being personal). I always look at properties
10-15% over what I can afford.

lookstraightahead

ashfan83 wrote: »

Bill23h that's not what this post was asking about, but we set the price guided by the estate agent. We didn't just pluck it out of thin air.

In my experience there's a lot of plucking of prices by the estate agent as well.

lookstraightahead

Interestingly I've noticed two houses next to each other. They look identical. One was on for offers over £280 and the other was just on for £285. The £285 sold for £275 and the other is still on the market, been on for months and just keeps swapping agents.

need_an_answer

My view on the offers over situation has always been if you want more then advertise it for the figure you want.

My last purchase was an offers over situation,I asked EA what the vendor wanted and was told £160k...property marketed at offers over £155k.
To me it was worth £155k that's what I offered and that's what was accepted....if the seller had truly wanted £160k then IMO they should have marketed it for that.

I'm currently looking for something else now and again the offers over has come into play...this time I've offered under the lowest price which I admit is a slightly cheeky offer but based on the fact that the vendor needs to get the tenant out first,who now needs council housing...I've offered 6% lower but still the feedback from the vendor has been that they would like 6% more than the offers over price.


OP just state your price it makes it a lot easier for those who are experienced in property buying and a world of difference to those who are entering the property jargon market for the first time.

Crashy_Time

PasturesNew wrote: »

I've just taken an offer about 6.5% below my original asking price. My buyers sold at 12% off theirs.

You either want to move, or you don't. Sometimes the desire/need to move is greater than the never-ending disruption of viewings and you just want it to end.

You need to ask yourself: What if this is the last offer - and nothing happens for 3 moths and then I have to shave a bit more off anyway?

A bird in the hand can be better than two in the bush for some.

It's personal. There are no figures that could be meaningful to you.

Life is too short for dithering. At some point you have to take stock and ask yourself why you're selling and whether you're fooling yourself you can get what you want for it in the next year if you hold on...

Great advice, more would be sellers should take heed IMO.