Offers over ????

[kiely32]

I have a price in mind that I would like for my house, 42#,###. It is currently marketed at 435000. Would it be better to be marketed at offers over 420, 000 or do people ignore the 'Offers over' part and go lower? I am completely new to the buying selling game as we bought the house from our landlord.

I always ignore offers over. It drives me mad.

In my area I've yet to see an ''offers over'' property actually sell for a price above the initial ''offers over'' figure.

They either get reduced if the vendor is genuine and realistic or the stubborn deluded ones leave them sat languishing for an inordinate length of time or else they have a foot stamping tantrum and withdraw from the market after 6 months or so of no interest and ''insulting'' offers.

I think it depends how popular your area is and whether people will be fighting over your house. I tried to buy a house in West Bridgford where there is loads of competition for houses. Everything was up as offers over, but houses were getting several offers, and estate agents were setting a closing date for offers.

If you live in an area where the market is not moving so fast I would stick to the price you have and be open to offers - generally I think people like to feel they are getting money off.

I am in Hertfordshire. I think the price I want is realistic for the area... My thinking is that we are missing the buyers who are putting 425000 as their too budget on rightmove/Zoopla.

I think people generally ignore that. We just sold and our agent said he never bothers with it.

I would have thought that most people would factor in a bit of wiggle room on their searches, I certainly do. I would have thought if your top budget was 425 you'd be looking up to 450 at least. I agree though, I don't like offers over either and would prefer a price that can be negotiated.

People don't really pay any attention to it. We bought our last house at 15k under the "offers over" price.

Ok, thanks. I will leave it as it is and see what happens when the market picks up in September.

It depends on the local market. I'm in SE London. A year+ ago (pre-Brexit, basically) "Offers over" had the desired effect for vendors. Now things that are selling are priced realistically - no one wants to get into a drawn out negotiation with a deluded vendor who is holding out for £x+15% because last year the downstairs neighbour sold for £x. Those properties are staying on the market for months and months.

Yes I get that. Next door sold for full asking price of 450000, in 10 days, 6 months ago. There is no way that would happen now. It's far more a buyers market.

I agree that you're better off putting it on at 435,000 and being open to offers TBH.

I agree that you're better off putting it on at 435,000 and being open to offers TBH.

Right, that's settled I will keep it as it is ☺

I wouldn't go for offers over. You could reduce it by a small amount and say offers around. If you're willing to take less than £435 then I'd certainly think about reducing it a bit.

If I saw offers over something I would only want to pay the price shown rather than over.

If I was able to spen £425k I would be putting £450k into the search engine anyway so I'd leave it at £435k