Offers in excess of...

Daveinlincoln

How i hate this term!

What's the idea behind estate agents using this term?

I've seen a house I like, its in an in demand area (for this city) and is in great condition...its "Move in and do nothing" quality that i am looking for.

I'm booked in for a second viewing with my son on Saturday and this place will sell quickly as its been on the market for just 2 days and has had 8 viewings.

I'm happy to offer on it but i don't know where to start pricewise...its up for offers in over £180k. To me that's £180001 but I know that won't secure the house for me.

My position is i have a house to sell but i'm not on the market yet as i'm waiting for my ex-wife to move her stuff out on the 8th April, I've had it valued and so apart from all the ex's clutter i am pretty much good to go.

I guess i could go on the market sooner but the photos wont look great and the clutter will put people off.

I'm worried that any offer i make won't be taken seriously as i'm not on the market yet...so, do i go high in order to secure it? I can go up to £200k but thats my max because i want to be mortgage free.

What offer should i open with?

Daveinlincoln

I will just add that the property isn't worth £200k....its perhaps £192k max.

Angela_D_3

Ours went on at offers over £275,000 and sold for £290,000 - agents idea but tbh i would accepted £285,000 so it worked well 

Weathergirl_76

My property is up for sale at ‘offers over £315K’. I am hoping to achieve 318, so my agent put my house up in this bracket. 

Maybe that’s the minimum the seller will accept, you could offer at 181 and see what happens, however I don’t know if they will view you as ‘proceedable’ as you are not on the market yet or under offer, so someone who is, might be preferable as a buyer. I am not a professional, but my house is on the market now, and I would accept an offer from someone who is under offer, more than I would someone who isn’t in a position to proceed.
Can you not put the clutter away or borrow a garage just so the photos can be taken so you can get on the market? You will be in a better position once your house is up for sale to make offers on a purchase. I would also push to get yours on the market so you have a chance to get in before the end of stamp duty, the quicker it’s on, the quicker you will find a buyer, and potentially save yourself paying stamp duty too. Good luck. 

lookstraightahead

To me, it means "I'm trying to reduce the number of viewers I get by using ridiculous wording". But it works for some I suppose.

Sometimes if a property has been on a while, they will reduce it to offers over to try and get what they had originally thought the house to be worth, but without any negotiation.

It put me right off viewing anywhere with this wording.

TheProfessional

The house we have just bought was offers in excess of 600k. Paid 582k. I just ignored offers over part at the beginning and offered 575k to start

We sold with 'guide price 319,950'. I didn't even know what that meant but it went for 330k

Thrugelmir

A sure way of reducing the number of  timewasters you get that express huge amounts of interest. Have multiple viewings. Then offer a silly amount as they expect you to absorb the cost of the building work they plan to do. 

The_Man_In_The_Pub

> its up for offers in over £180k. 
Just offer what you think it is worth.  If you think it is worth £155k, then offer 155k. Ignore any "offers over" marketing drivel.

tink_1983

We offered 340 on a house on for offers in excess of 350k. Offered what we thought it was worth. Offer was accepted 

stevenbecca

a house is only worth what someone is willing to pay if you think it's worth 175k offer it, we just viewed one today, was in at 270 then 260, we are considering an offer of 245k being that we have nothing to sell and the sellers haven't yet actually bought or decided what to do in terms of go new build or not, we're going to offer low but express we are to wait for them (they have offered ti move into rented) in hope they look on it as saving rent and they won't be pressed to move fast.

lookstraightahead

Thrugelmir said:

A sure way of reducing the number of  timewasters you get that express huge amounts of interest. Have multiple viewings. Then offer a silly amount as they expect you to absorb the cost of the building work they plan to do. 

It doesn't just reduce timewasters, it reduces realists, cash buyers, sensible buyers and those absolutely ready to buy but can only afford £1000 less.