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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To offer less than asking price even though it's offers in excess of?

283 replies

jnfrrss · 22/04/2018 07:34

This is in England, it was on at 460k, reduced to 440k but now says offers in excess of that. Seems funny to say excess if it's been up for sale for 8 months and not sold so reduced.

I want to offer 395k as thats what I think it's worth

OP posts:
SaturdaySauv · 22/04/2018 08:18

We asked for oieo and immediately received a couple of offers under that we rejected and then a while later one 25k over which we sold at. We’d have never accepted an offer under as we didn’t need to move quickly and felt confident in the asking price.

bandito · 22/04/2018 08:22

It's worth a shot. I've organised the sale a house acting for my family sibling group (8 of us!) after a relative died. It only takes a few siblings to hold out and say it's definitely worth more to be advertised at a higher price or as offers over to keep them happy. Most of us wanted to get rid at a realistic price and move on. We had to reduce and we only got one offer (below OIEO) and we accepted. I'd say, have a go - the worst that will happen is they'll say no thanks.

FranklinDelano · 22/04/2018 08:22

What does Zoopla give as the estimated value? (Yes I know they don't take loads of things into account like improvements etc)

Chocolate1984 · 22/04/2018 08:24

Why not offer £400,000? £100,000 each sounds better than £98,750.

catkind · 22/04/2018 08:24

Go for it OP. If they're serious about the offers over they will have instructed the agent not to pass on any that aren't, so what's to lose.

AJPTaylor · 22/04/2018 08:25

They might be pissed off because they are human, selling parents home and do not negotiate everyday. No harm in offering what you like but people are funny. The person we insulted by offering practically the asking price didnt sell and ended up renting out.

LoveYouTimMinchin · 22/04/2018 08:26

Why are you asking aibu then? You clearly have all the answers. Just make the fucking offer.

CoughLaughFart · 22/04/2018 08:26

I still don't see why they would be pissed off

Because you’re offering £65k less than they initially wanted! What is so hard to understand about that? It doesn’t matter what you do ‘in your work’ - it’s not you selling the house.

I don’t really know why you’re here to be honest. You’ve already decided your offer is reasonable, so make it. You don’t need strangers in AIBU to agree with you.

NickyNackyNoodleNoo · 22/04/2018 08:27

If it says 'offers in excess of' then that is what they mean, I'd be well pissed off with a cheeky offer unless I hadn't put OIEO.

If you are definite you want to put in a cheeky offer, I'd back it up with something like you can move quickly, cash buyer, needs lots of work doing or something to justify the offer as long as it's true. Good luck Wink

shouldwestayorshouldwego · 22/04/2018 08:31

With four vendors it only takes one to be awkward and hold out for a higher figure.

PurpleDaisies · 22/04/2018 08:31

We put ours on with an “offers in excess of”because that was the lowest we could accept to make our onward move work. We declined other offers straight off.

Bambamber · 22/04/2018 08:32

When we sold our house our estate agent put it as OIEO x amount even though we would have accepted less. But because of the area and the place we were selling it was expected to be highly popular so they expected us to be able to get higher offers. So it's not always a case of that's the minimum they will accept, sometimes people just follow the estate agents lead. The house we bought was reduced by £20,000 but still OIEO x amount, yet we still got it less than the new price.

Offer what you think it's worth. The worst they will say is no.

Bluntness100 · 22/04/2018 08:32

Of course you should only offer what you think it's worth and not a penny more. It's ridiculous to suggest it would cause offence. They either say yes or no.

The minor price reduction though would indicate to me its sellers who are holding out for as much money as possible though and probably unrealistic. You're right if it hasn't sold in eight months it's substantially over priced.

Put the offer in, roll the dice, if they say no, move on.

OddestSock · 22/04/2018 08:36

we put in an offer of £195k on a house that was offers over £200k (it was originally up for £230k).
after a week, the vendor accepted.

Bluntness100 · 22/04/2018 08:37

Because you’re offering £65k less than they initially wanted! What is so hard to understand about that?

What a weird mindset. Just because they want it doesn't mean it's an insult if no one wants to pay it. Sure they might be pissed off no one wants to pay their over inflated price but that's not the ops problem and she shouldn't be throwing them thousands of pounds or walking away to avoid hurting their feelings.

She should make the offer, they will either say yes or no, if it's a no, she should walk away and not look back. The vendors will then keep it on the market till someone is willing to pay it, or they get real and drop the price.

IMBU · 22/04/2018 08:38

I'd never bother offering on a house marketed with 'OIEO'. Too much game playing involved.

Pengggwn · 22/04/2018 08:38

Bluntness100

Probably it is overpriced, but I don't think it is ridiculous to be annoyed (not so much offended) if someone comes in with an offer below the figure you have communicated as your minimum. No one likes time wasters.

JacquesHammer · 22/04/2018 08:38

How long has it been on at the new price? Absolutely offer but expect it to be declined.

We offered £25k under asking price for my house. Vendor refused. We walked away, house was reduced and reduced until we got it at £35k under the original asking price. Vendor was pissed off we wouldn’t put in our same offer of 11 months previously Grin

BlondeB83 · 22/04/2018 08:40

I imagine if they dropped it to £400k they would have more interest so I doubt £395k would be accepted unless they’re desperate to sell.

You can try though! I got 18% off my house when I bought it, it had been on the market for a year.

BlondeB83 · 22/04/2018 08:41

I think if you went £400k+ you might have a better chance, psychologically it sounds like significantly more even though it’s not.

Bluntness100 · 22/04/2018 08:41

Oh and we had this, it was a beautiful country house, that an old lady had lived in, deceased estate. The house needed completely gutting, but I fell in love with it. Total heartover head thing. We offered slightly below asking price, it had been on the market for quite some time.

The children rejected our offer. We considered upping it, but decided it was just too much of a risk as a total money pit, so we walked away. The agent said they wouldn't accept anything less than asking price. It wasn't sold for several months after our offer and when it was it was way below what we had offered. The children simply got greedy and it cost them.

Sunshineface123 · 22/04/2018 08:41

I really wouldn't worry about pissing them off, they're not your friends! Offer what it's worth to you and you'd be happy paying then you can't lose. We had an OIEO on our house and ended up accepting 10k less, it was a marketing tool essentially. Good luck!

monkeysox · 22/04/2018 08:42

Have a go. 10% below stated price isn't that cheeky.

Bluntness100 · 22/04/2018 08:44

Probably it is overpriced, but I don't think it is ridiculous to be annoyed (not so much offended) if someone comes in with an offer below the figure you have communicated as your minimum. No one likes time wasters

But she is not a time waster, she's a serious buyer, and plenty of people do accept lower offers. It's hugely common. I get folks might be annoyed people don't want to pay what they are asking, but that's their problem and not the ops.

TidyDancer · 22/04/2018 08:45

I'd be very surprised if they agreed to such a massive drop but I guess it can't hurt to try.