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Offer over mean
rebin123
Posts: 98 Forumite
Hi guys
Friend trying to buy a house and it been advert price offer over 143000 for 4 weeks do they accept below that say something around 5/10 parentage o higher any help are welcome
Friend trying to buy a house and it been advert price offer over 143000 for 4 weeks do they accept below that say something around 5/10 parentage o higher any help are welcome
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Comments
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There is no set rule, its dependent on the vendor.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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The clue is in the wording. "Offers over" means "offers over".Eat vegetables and fear no creditors, rather than eat duck and hide.0
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Offer whatever you want.
Vendor will either say
* Yes
* No or
* make a counter-proposal.
A property is only worth what a buyer is prepared to pay.0 -
The clue is in the wording. "Offers over" means "offers over".
I bought my house for £2k under "offers over".I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Offer whatever you want.
Vendor will either say
* Yes
* No or
* make a counter-proposal.
A property is only worth what a buyer is prepared to pay.
Or a house is only worth what a seller accepts.
If a seller gets 3 offers of £200k, £205k and £210k but decides to accept the £205k offer, that's what the house is worth.0 -
if the property ios in Scotland then offers over means exactly that, you must offer at least (and preferably more than) £143k
if the property is elsewhere and has "only" been on the market for 4 weeks then the vendor has not yet really established if people regard 143 as being too high. If you offer -10% they are likely to be annoyed, if you offer -5% they may say no or they may think about it. Rather depends on what else is on the market at that price.
if it is still on the market in another 4 weeks then offers over is not working and you should offer whatever you want0 -
if the property ios in Scotland then offers over means exactly that, you must offer at least (and preferably more than) £143k
if the property is elsewhere and has "only" been on the market for 4 weeks then the vendor has not yet really established if people regard 143 as being too high. If you offer -10% they are likely to be annoyed, if you offer -5% they may say no or they may think about it. Rather depends on what else is on the market at that price.
if it is still on the market in another 4 weeks then offers over is not working and you should offer whatever you want
Whether the property is in Scotland or not makes no difference. The OP CAN offer below £143k. There's no rule or guideline that says otherwise.
Anyone who offers more than an O/O price in Scotland where the property has been on the market for some length of time without competing interest needs to rethink their logic....0 -
Thank you guys, So if i Offer them 135-136 should i give a shot and wait what they say, just checked now 4 weeks a go it was 142 now is 143.0
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