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Original poster

Offers over - what do I offer?

9 replies

Teets · 25/04/2022 13:24

I've just viewed a house I'd like to put an offer on - in the Worcestershire and Gloucestershire borders. It says 'Offers over xxx'. I've never bid on an 'offers over' house before. It's in good nick, no obvious problems spotted on viewing. No idea what to go in at - £1,000k more, 1% more? Stumped. Any wise words very gratefully received. (I totally appreciate this is a 'how long is a piece of string question'!) TIA.

OP posts:
girlmom21 · 25/04/2022 13:25

How long has it been on the market? How many other viewers? Any other offers yet?

Mummumtum · 25/04/2022 13:25

In Scotland itd be at least 10% over, think England may be different though

DrunkBetch · 25/04/2022 13:45

Teets · 25/04/2022 13:24

I've just viewed a house I'd like to put an offer on - in the Worcestershire and Gloucestershire borders. It says 'Offers over xxx'. I've never bid on an 'offers over' house before. It's in good nick, no obvious problems spotted on viewing. No idea what to go in at - £1,000k more, 1% more? Stumped. Any wise words very gratefully received. (I totally appreciate this is a 'how long is a piece of string question'!) TIA.

There is no right answer here if you are in England( Scotland is usually 10%over) it's really down to the local market. How long has it been on the market? Has it had any other offers? What is local demand like? How much do you think it is worth/are you willing to pay?
When we bought our house in greater Manchester, it was on at offers over XXX. we didnt believe it was worth more than that and they actually wanted 25k over. We offered way below and managed to get them down to the offers over figure which I believe was a fair price.
That was 12 months ago if we tried to buy the same house now we would probably have to pay at least 30k more than we paid then because the demand is so high round here now.

dottypencilcase · 25/04/2022 13:55

Eek- recently been through this (see thread) and so know how you must be feeling! What's your budget? How much have others house sold in the area/street? What's the ceiling price for the property? How much do you want the house?

Hannahthepink · 25/04/2022 13:56

I guess it depends on how much the price is, but for the only example I have, our estate agent said to put ours on for offers over £445 to achieve £450. So I guess maybe round it up a bit?

dottypencilcase · 25/04/2022 13:56

Houses*

Original poster
Teets · 26/04/2022 15:22

Wow, thank you everyone, that is all excellent advice. REALLY appreciate it. You lot are lovely. Have done a bit more local sleuthing and just handed in our offer. Don't rate our chances highly, but you never know...

OP posts:
dottypencilcase · 27/04/2022 16:55

Any update OP?

Original poster
Teets · 28/04/2022 09:17

They have just this minute accepted our offer! We ended up 'only' going 10k over. Kiddo was my secret weapon; they were sentimental about selling it to a family and the other people were all retired. Thanks so much for all your help, and for checking, dottypencilcase.
Now we should be settled in time for September and my girl's first day at High School, gulp. Touch wood etc.
x

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