What does this mean?

[DameLucy]

So if a house is advertised at say £360,000 - £380,000 what is the vendor expecting to accept offers on? I see often in Rightmove that the property is marketed at £360,000 and then when I read details it says £360, 000 - £380,000. So what is the. Vendor expecting me to offer? I’m confused 😫 What would be a reasonable offer?

I’m having the same problem with all these strange terms - offers in excess of, offers in the region of, price on asking, etc, etc. Can’t they just be clear and stop this silly game? It’s frustrating!

In the middle, is probably what they are realistically aiming for.

What is the house worth to you? How does it compare to other houses that you’ve seen?

So if I were to offer £370,000 do we think that’s what the vendor is looking for? If so, why not just say? 😫

@JoJoSM2 I’m looking at paying as low as possible but don’t want to insult the vendor. I just want to know why the agent gives a window. I can afford the higher end but would prefer to pay the lower end

Property is just a year old so new builds are advertised at the top price which I understand. However this property has an integrated dishwasher , fitted wardrobes and bespoke fitted blinds to all windows which aren’t cheap. So really I’m wondering what’s the best deal and could I get the one year old place with al, the exte bits in for cheaper

Crikey sorry for the typos. Too much vino tonight

Offer 265 and re negotiate if rejected

@CorianderLord so assuming you mean 365 not 265. Do yip feally think I should go as low? I don’t want them to think I’m taking the piss 🤣

So the same type new build without all the extras is listed for 380k? And probably 380k with the extras after some negotiation? I’d be happy getting the 1yo for 360ish.

Sorry yes 365. I mean they created the range. Insulting would be below 360.

JoJoSM2 so yes they’re still building and selling at 380. The house I’m considering is 1 YO and priced at £360-380 and has fitted wardrobes, integrated dishwasher and blinds. Us this. Better deal than the newbuild and what should I offer?

If you’d be ok to pay 360, then offer that.

I’d be ok at 360 but are they expecting 380? This is whatI don’t know. Don’t want to lose it if it’s a good deal

Just offer 360 and see what they say! If they don't accept, they'll come back and tell you how much more will seal the deal, surely?

It is just a tactic. They have put their house on the market for £360,000. If they wanted £370 or £380 they should have put it on Rightmove as such. Forget what they expect and compare it to others. It may be worth calling the estate agent and ask them what price they think the vendor will entertain, sometimes the answer is more open that you think it would be.

So basically I go low. Lower than the new builds despite the extras? Ok I’ll try tomorrow. Wish me luck 😫

It means they'd be very happy with 370, and would reject anything under 360 (unless hey get no offers ) - good idea to offer 265 as most people would try 360 first.
good luck!

365, obvs!

My view is if people put a price bracket they're telling you they'd be accepting of the low point on that bracket - why would any one then offer the top end unless it ended up in a bidding war!

What did they buy it for? Although bear in mind they may have had incentives you won’t see in zoopla like stamp duty paid/contribution, upgrade on kitchen/flooring etc, maybe even part exchange (which is worth a lot but won’t show on the price paid)

Although obviously you can still offer lower than they paid, what they paid for it doesn’t impact what the house is worth now. But might give you some idea where they might be coming from.

Re : still building. A brand new house always has a premium on it. I would expect a one year to be less - although one wonders why they are moving so quickly?

price on asking

You can’t afford it!!

OP offer the £360 and go from there

@WhoWouldHaveThoughtThat They’re apparently moving as they have a new job in a different city so need to relocate.
I’m going to offer 360 today and see what they come back with. Although I know they have more viewings lined up this week, so ........