What does "offers in region of.." even mean?!

[optimisticpessimist01]

I understand offers in excess of, and even just an asking price, but I don't understand why a seller would put "offer in region of X"

Does that mean they'd accept lower? Do they want higher? Do they want asking? I can't see a reason why another term wouldn't suffice unless I'm missing something!

I think it means they would be happy with something around it, so you have a good chance of offering below and it being accepted, especially if they have been on market a while.

It means don’t offer really low but you can offer slightly lower

It means their open to negotiations within reason, maybe offer 5% below and see what they say.

Perfect thank you, why not just set it at a slightly lower asking price though? House buying wording confuses me!

It doesn’t matter what they call it. Offer what you are prepared to pay or start negotiating from.

Offers over in Scotland for example is often actually offers under, depending on region and local market.

Perfect thank you, why not just set it at a slightly lower asking price though

Because most buyers would still try to negotiate a lower price.

I started a similar thread this evening about Offers In Excess Of, I can't understand why people don't just say what they want!! 🤷🏻‍♀️

@optimisticpessimist01

Perfect thank you, why not just set it at a slightly lower asking price though? House buying wording confuses me!

Because everybody likes to feel they've got a bargain. Vendor markets slightly higher assuming people will offer lower, they negotiate up to price they had in mind all along. Buyer then feels they've paid less than market price. It's all just a game really!

why not just set it at a slightly lower asking price though?

Because everyone likes to feel they have a bargain.
If the vendor needs £280 K absolute minimum and they ask £280K, there is nowhere to go from that. If they put it on at £299K, they might get £290 or £295, but, worst case scenario they can drop to the amount they need, and the vendors think they have a real bargain.