'Offers in excess of'

[Kathysclown]

We have found a house that we would like to make an offer on. The guide price says 'offers in excess of'. Should we take that seriously i.e. not make an offer lower than that? Or is it usual/expected that we would make a starting bid below that guide price?

It is over 20 years since we last bought a property, so a bit out of touch...... The local market is quite slow, and this property has been for sale for around 6 months, with no offers (I think). It has recently had a price reduction.

We are in England, if that makes a difference.

Advice is welcome - thanks!

I think you offer a bit below but say knock off around 5-10k rather than 10%

You could try a lower offer but I wouldn't think they will take anything below what theyre ask8ng.

You offer what you think is fair. Whether they take it is another matter.

100% depends on the house.

I saw a house go on locally - hi spec expensive refurb,but to very ugly modern style in what should have been a lovely period property.

First it went on for OIEO 300K. Then OIRO 300K. Found out the sold price recently... 250K.

I’d ignore the offers in excess of and offer below. You can always go up.

Thanks for the advice - we will make an offer a little below the guide price, but not ridiculously low. Wish me luck!

Best of luck x

Estate agents generally use this in England when a property has been on the market for a while and the owners won’t budge on the asking price. Definitely still make lower offers if that’s what you want to do as you could be able to snap it up.

In Scotland, however, it generally means that is the minimum price.