Offers in Excess of

C1996

Hello,

Just wanting some advice please. I have arranged to view a house this week which is advertised as OIE £165,000. 

My top limit is £160,000. If I were to offer on the property I would be offering my top limit. 

Due to the current market and people offering asking price and above, I am wondering if I am wasting my time even attempting to offer £160,000 as it could be likely that I may be outbid anyway? 

I am a FTB, no chain, solicitor in place, mortgage principal with a £20k deposit. 

Any advice would be appreciated. 

Thanks 

Exodi

You miss 100% of the shots you don't take.

C1996

Exodi said:

You miss 100% of the shots you don't take.

A part of me thinks just view and offer 160k, have to be in it to win it I guess 😁

Schwarzwald

What hurt does it do to put your best foot forward?
You might not get it, but you might also get another call in 3 weeks if the property doesnt sell and they reduce to lower …. Just do it and see what ahappens

movilogo

offers in Excess of, guide price etc. are marketing tricks used by agents. Simply ignore them.
Offer what you feel the house worth. 

You either get it or don't get it. If you don't offer you don't get it for sure.
Even if your offer is initially rejected, vendor can still come back to you at a later date if other buyer pulls out.

So if you like the house, offer whatever you feel it is worth, without worrying whether it will be accepted or not.

Zerforax

Make the £160k offer - you have nothing to lose other than getting a polite no.

Don't expect to get the property or make any plans or incur any costs.

theartfullodger

About 20 years ago I offered more than 10% below the offers over price on a house.  Rejected, very bluntly and rudely (never do insulted etc etc..).

Thanked agent politely for the message.  Repeated identical offer a week later.  Accepted, owned it probably 19 years

Exodi

theartfullodger said:

About 20 years ago I offered more than 10% below the offers over price on a house.  Rejected, very bluntly and rudely (never do insulted etc etc..).

Thanked agent politely for the message.  Repeated identical offer a week later.  Accepted, owned it probably 19 years

Indeed. My current house my last purchase was listed at 'Offers over £325k'... they accepted my offer of £290k.

It's all about playing the game.

lookstraightahead

I also totally ignore the offers over scenario. Sometimes I avoid viewing as I want to buy a house not play a game 😬

C1996

Exodi said:

theartfullodger said:

About 20 years ago I offered more than 10% below the offers over price on a house.  Rejected, very bluntly and rudely (never do insulted etc etc..).

Thanked agent politely for the message.  Repeated identical offer a week later.  Accepted, owned it probably 19 years

Indeed. My current house my last purchase was listed at 'Offers over £325k'... they accepted my offer of £290k.

It's all about playing the game.

Ahhh amazing!!

peterhjohnson

If, in the current market, the property is worth £165k or more, it will sell at the £165k or more and your offer will be declined, possibly rudely.
If, in the current market, the property is worth £160k or less, it may well sell to you at £160k