Offers in excess of.......

ginvzt

Well, there was someone on another tread yesterday who didn't know that they can negotiate price on the house!!!!!

SquatNow

ginvzt wrote: »

Who said there is another bidder?...

If you think agents are making up bids the best bet is to tell them that you're offer drops by £1000 a day and see how quicklythe other "bidder" pulls out.

If the "bidding" goes above what you want to pay, walk away... theres a million empty houses out there waiting to be bought.

TighterThanTwoCoatsOfPain

myself and the missus both sold our respective house just before xmas (sales agreed sept/oct)... both properties were "valued" by the agents we chose to use.

We knocked 5k of one, and 10-15k (depending on the vals) of the other and went OIEO. The 10k off went for the value we knocked down to, the 5k off had a first offer 2k in excess.

It was our idea, the reasoning being that it puts the property into a higher Rightmove Bracket where people may just dismiss is as being too expensive so not worth a visit, and it at least gives 'time wasters' a hint.

That said, its obviously i different kettle of fish in current market... Prices were not quite falling when we agreed our sales..

All depends on if the OIEO is cheap i guess....

SuzySu

I must say that when we first put our house on the market (in January this year), our EA advised us to market as OIEO and we just agreed. At the time it sounded reasonable - it would give buyers the impression it was worth more (and indeed, it was valued at more, but we thought we'd play safe).

However after reading loads of comments on here regarding OIEO I am glad we changed agents and went with the old tried-and-tested method of just quoting the price.

Have now agreed a sale (only losing 5% of the value) and keeping our fingers crossed that all goes smoothly.

PasturesNew

It puts me off. I was interested in a flat a number of years ago that was OIEO. I put an offer in, it was rejected. I offered the OIEO price, it was rejected. I said to the estate agent "why don't they say what they want and I'll see if I can or will pay that much". Never heard a thing.

It wasn't that I couldn't afford it, at the time that was OIEO £60k and the house I ended up buying cost £90k.

Since then I just pass by houses advertised at this much. No house is SO special and unique that it stands out. So they'd be right at the back of my list for ever asking about. I'd have to be desperate to even look round one.

I just want to know how much. Doesn't seem unreasonable to me.

I understand a lot of people are put off by the phrase OIEO, so I know it's not just me that dismisses them offhand from the start.

Catblue

It puts me off too.

This might be unfair, but I always think it is indicative of a prissy or unrealistic seller, and I just dismiss those properties out of hand.

Same with Stamp Duty Paid by Vendor stuff - just lower the asking price for gawd's sake and stop messing about!!!!

jamtart6

I'm assuing the OP is in Scotland? Their system is offers over a certain price and they sell to the highest bidder. In England, I'd say if a house was £150k and it says offers in 'excess of' I'd politely ignore them and offer what I thought it was...probably £140k

PasturesNew

jamtart6 wrote: »

I'm assuing the OP is in Scotland? Their system is offers over a certain price and they sell to the highest bidder. In England, I'd say if a house was £150k and it says offers in 'excess of' I'd politely ignore them and offer what I thought it was...probably £140k

No, they're in England:

jamtart6

Oh..

Night then !!