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?

How did your offer go?

Still waiting. They have more viewings And EA says they’re looking at top end to enable them to move as that’s nearer what they paid so? .... 🤷‍♀️

they will all be tring the 360K - that's why I siggested you start with 365 so you stand out from the start! It'd be fine at 360 if there was little interest.

*trying

I’m temped to go to 370 tomorrow but EA is suggesting that they’re looking nearer to 380. If this is the case why not say that from the start?

We offered 460 on a property that was priced 475 - 500. EA came back to say they'd accept it if it we went up a further 5k. We said that was our final offer and gave reasons why - we figured we could always go up if it wasn't accepted, but it WAS accepted.

EAs are so good at creating a sense of urgency and getting you to increase an offer before the one on the table has been rejected.

My advice would be to not chase this otherwise you'll end up paying over the odds. Given most newbuilds lose value in the first few years, I would be wary about paying the same price it was sold for - as another poster said - the land registry price will not take into consideration any discounts or stuff that was chucked in.

Thanks for the advice. I actually said to EA that I’d leave it on the table and if they were inclined to take the offer it was there but I’d continue with viewing other properties in the meantime.
Had a little wobble this afternoon hence my idea to offer another 10k tomorrow but OH came home from work and talked sense into me. So I’ll leave the 360 on the table for now. 🤞

Definitely leave it on the table! I’d have gone in at 350 if they NEED to sell!

Good decision. New builds seem to be generally over priced so I'm not surprised if it has reduced in value one year later.
Don't be tempted to keep increasing as you will over pay which wouldn't be great at the moment particularly. If they need to move within a certain time frame for a job, they are under pressure to sell.

agents would always say that they aer looking for the top end - after all it's the agent's valuation and they won the contract by (over) valuing! The sellers may not tell the agent at the beginning what will they actually accept so that agents work harder.

OTOH I think if there is a lot of interest, you are unlikely to get it at 360 unless you are in the best position. It's just sometimes the agents let you believe there are many viewings, so that's a bit tricky.

Depends on the buyer's position, the seller's position and how long the house has been on the market.

I think I’ll brazen it out for a few days. If, on Monday afternoon, it’s not SSTC I will give the EA a call. We’re in a position to move quickly (ie we can cash buy before selling our own property, which we’ll market when we’ve moved - very fortunate situation).
I hope I’m not cutting my nose off to spite my face! 😫

Be brave!!! You’ll have one fewer years on the guarantee for the property and you won’t be able to do snagging or have chosen the finish as you would with a new build. That’s worth a good amount. Plus you’re a brilliant buyer! No chain with cash is the dream.
Stick with the lower offer and if you call to chase say you’re reiterating your position (ie fucking brilliant and they’d be lucky to have you!). Good luck. Start looking at what you can spend the £10k you saved on! Will motivate you to stay strong.

@Onekidnoclue thanks! You’ve inspired me 😂