Offering below ‘offers in excess of’?

[holr]

Our house is not on the market yet (we did have it valued a few months ago though) but we have really outgrown our current house which we moved in just the two of us and now have two small children. There is one house in a lovely location and ticks all of our boxes, but is slightly out of our price range at ‘offers in excess of 315K’, our budget being between 280 to 300k. We bought our current house for asking price and this was our first home so not really sure how this works but would it even be worth viewing the house knowing the very most you could pay would be 305K? This is the only house that we would put our house on the market for that we’ve seen within at least the last six months. Just wondering what others experiences are.

You need to get your house on the market to be taken seriously. How do you know your house will go for the valuation?

well, that’s because the term is ‘ offers in excess of’ which usually means we won’t consider offers below this.

its aimed at showing the lowest possible price to get viewings.

We put our last house on as OIEO 575k because the estate agent said we should, we thought it was a bit ambitious. We got two offers, both below that but reasonable (and accepted 565k)

Or just using a different tactic to get people in the door. It’s aimed at people who might have room to stretch their initial budget, but wouldn’t have looked at it when it was listed at higher price.

Think it depends what other similar properties are up for / selling for in the area
I’d work out the £/m2 locally and see what figure the house comes out at

Like a pp noted I’d put yours up for sale to show you are serious about moving

We had a couple of estate agents recommend it to us. They said we could list at £365k, but listing at OIEO £350k would mean we showed up in the Rightmove searches of people filtering to £350k.

I offered less than the OIEO price and had it accepted, but I was in a much better position than you - I’d sold and was quite a way down the process (the house I was originally buying fell through) and no one in my (short) chain needed a mortgage.

Yes this is a bigger blocker than the price potentially. It depends on how the market is at the moment, you might need to secure a sale yourselves before anyone will accept an offer from you and take their house off the market. But you are where you are. No harm in asking.