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Original poster

Offers over?

155 replies

NotMyCircusMonkeys · 21/08/2018 23:05

I'm a first time buyer with a maximum budget of £195k-£197.5k.

I've seen three properties I like advertised, two at "offers over £200k" and one at £210k. They've all been online for 2-3 weeks.

I'm just wondering what would be a reasonable offer? Is "offers over" normally really strict, with no exceptions, or would it be worth offering £195k on either of the two listed at £200k? Also, would I have any chance at all of getting the £210k house for around the £195k mark?

I'd just like to try and work out really how much sellers generally accept under the asking price (I appreciate it will vary depending on circumstances!) so that I don't waste anyone's time.

OP posts:
Homescapes · 23/08/2018 15:28

you’re

Bluntness100 · 23/08/2018 15:33

Op some proper emotional shite being posted here.

Put your offer in, there is nothing wrong with that or embarrassing about it, it's a business deal. The seller with either accept or reject.

MaisyPops · 23/08/2018 15:33

Homescapes
Yes there's problems, but some can be avoided by people not wasting time.

I'm not against negotiation. I just think that someone clearly saying if someone says they want offers over X and you can only afford Y then it's taking the piss to view a house you can't afford. That's a lot of time and effort wasted on someone who isn't in a position to buy.

AnalyticalChick · 23/08/2018 15:37

@Maisy

Perhaps it would have been best for you to require viewers to provide proof of their funds before allowing them to view?

In reality, the No. 1 buyers' rule is NOT to show the seller how much they can afford. If you only allow viewings by people who can pay your asking price, you are insisting that they break the No. 1 buyers' rule, in favour of your own made-up rule, which is only designed to help you shake them down for every penny they may have.

Homescapes · 23/08/2018 15:39

Put your offer in, there is nothing wrong with that or embarrassing about it, it's a business deal. The seller with either accept or reject.

This ^^

AnalyticalChick · 23/08/2018 15:43

@Maisy
Richard Branson bought Nekker Island in 1978, before he had made his money. At the time he only owned a small record store in Brighton, and he borrowed the money to buy Nekker Island. It was purely a residential transaction, not a business purchase.

MaisyPops · 23/08/2018 15:50

AnalyticalChick
I've already said I think asking prices are different to OIEO multiple times.

Look to me it's quite simple if there is an asking price, negotiate whatever. I'm not saying people have to pay the asking price.

What I am saying is that if someone has put OIEO and the house is already fairly marketed then that's their stall, viewing when you can't afford it or putting a stupidly low offer in is wasting everyone's time.

So viewing a house you can't afford, offering 50 grand under is just being a monumental time waster and a cheeky fucker.

But I'm sure you're all more than happy to cancel plans for viewings and have endless amounts of your time wasted by people who can't afford your properties.

Homescapes · 23/08/2018 15:56

What I am saying is that if someone has put OIEO and the house is already fairly marketed then that's their stall, viewing when you can't afford it or putting a stupidly low offer in is wasting everyone's time.

No it isn't. People put in low offers on OO properties and get them accepted all the time. I can ask what I want, offers over and wear a silly hat, doesn’t mean anyone will take any notice.

Bluntness100 · 23/08/2018 15:56

But Maisie the simple fact of the matter is people accept offers below what's its marketed at every single day. So clearly it's not wasting time.

I think we get you won't go below, so always have agents tell folks that rhe price is not negotiable down. It's fine. But you are the minority.

There is no discussion to be had on that, it's a simple fact. People accept offers below asking price every single day.

Homescapes · 23/08/2018 15:58

”people who can't afford your properties.”

This is your mistake. These people CAN afford your properties if the price was less, so they make an offer!

AnalyticalChick · 23/08/2018 15:58

@MaisyPops
As I've already said, I would not view a house that is advertized as 'offers over'. And I am probably not alone, either.

It's all very well for a seller to stipulate 'offers over', but there is a distinct possibility they are sending away the person who would actually have bought the property. In a strong market it probably would not matter, but in weak market, it would be the height of folly.

Homescapes · 23/08/2018 16:01

And even if you say not negotiable, people will still try because people say that all the time and then take a lower offer.

Plain fact is an offer in the hand is worth more than “I only want x amount and don’t take offers” statements if someone has to sell.

MaisyPops · 23/08/2018 16:03

AnalyticalChick I agree with you.

I'd view if the offers over reflected a fair price (e.g. clearly needs a bit of work but would stay well clear if it was ridiculous.) That's the seller's loss in my opinion if they are stupid by putting OIEO.

People accept offers below asking price every single day.
Sigh. As I've said a million times, I am not saying people must pay asking price.
I'm saying seeing OIEO and then making stupid offers is wasting everyone's time.

AnalyticalChick · 23/08/2018 16:11

@MaisyPops
The nuance of what I am saying is that I would not, on principle, view an 'offers over' house, even if I could afford it 10 times over. The 'offers over' is a red flag that would make me suspect that the sellers are awkward and unrealistic and game players, and I just wouldn't want to get involved with them. By giving that signal, the seller is sending me packing from the outset, a bit like when Julia Roberts goes clothes shopping in Pretty Woman.

Homescapes · 23/08/2018 16:11

I'm saying seeing OIEO and then making stupid offers is wasting everyone's time.

No it isn’t. Some people who put OIEO take lower offers. You can’t control the world and no one knows whether it’s “a Maisie seller” who really won’t accept offers under or someone who puts that but who will. Even the estate agent doesn’t know. You could have said it yesterday and lost £50,000 on the stock market today. They are under obligation to tell you any offer regardless of what smallprint you clutter your same with.

Homescapes · 23/08/2018 16:13

The 'offers over' is a red flag that would make me suspect that the sellers are awkward and unrealistic and game players...

Or their estate agent has advised them to do it...

Homescapes · 23/08/2018 16:14

“...clutter your sale with.”

AnalyticalChick · 23/08/2018 16:16

Plus, if I did view an 'offers over' property, I would be making the seller believe that I had the money, and that it is theirs for the taking. I would immediately be making a rod for my own back just by booking a viewing.

MaisyPops · 23/08/2018 16:20

AnalyticalChick
Fair enough. One of the OIEO ones we looked at was absolutely like that.

I've only sold once with OIEO on and it was because we'd cost up some work which would need doing (and we'd have done if we were staying) and we explicitly asked for that to be taken off and made clear in the listing that the price reflects that. I have no doubt it might have put some people off, but it was the risk we took because we wanted a simple sale (and why I was pissed off at someone putting in a ridiculous offer to the point of rude as it made me think they were awful and we had enough interest that i'd have not considered a further offer from them).

I'm more wary of OIEO if it's not got something in the listing and a quick Google on previous sales doesn't show anyrhing.

AnalyticalChick · 23/08/2018 16:21

Or their estate agent has advised them to do it...

True. And their EA might be advising them to be awkward, because the EA might believe that by doing so he/she can help stop the local market from falling.

MaisyPops · 23/08/2018 16:21

Or their estate agent has advised them to do it...

They are the seller.
If they mean OIEO then put OIEO.
If they are open to offers or negotiations then an asking price suffices.

People should tale responsibility for their listings.

NapQueen · 23/08/2018 16:24

We put ours on at offers over. The amount was the minumum we could let the flat go for. We sold within 7 days for 3% over. We would have accepted less than that, but not less than list.

Homescapes · 23/08/2018 16:33

Too emotive maisypops! People don’t care whether you like them or not, you are selling something, you need a buyer, they know that.

Bluntness100 · 23/08/2018 16:39

There's no such thing as a "stupid offer" it's an offer. Either accept or reject.

Snd the op is talking a few grand, not fifty percent under.

Homescapes · 23/08/2018 16:43

Offers over a price can mean the seller is prepared to wait. If they are downsizing because children have fled the nest but it’s the loved family home where their children grew up so they’ll only sell if they get a certain price... and the EA can tell buyers this... and they’ll still get offers well below. That’s what people do.

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