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Original poster

Offers Over - does this literally men what it says?

37 replies

DanceMonkey19 · 22/04/2023 21:03

Viewing a house next week which instead of a guide price is 'offers over' £x amount. It's been for sale for a while and they have reduced the offers over amount. Does this literally mean not to bother offering the £x amount? Or maybe like just £1k over? Obviously I completely understand the seller wanting to maximise the sale but equally we don't want to offer more than we have to! We'd be happy to pay the amount but certainly not much more 🤔

OP posts:
WuTangGran · 22/04/2023 21:06

It’s just a starting point for the negotiation. Offer the offers over amount and take it from there.

Polik · 22/04/2023 21:09

We offered 5% under an offers-over price and got the house. It'd been on a while snd clearly no offers.

catinthesunshine · 22/04/2023 21:11

I think it depends on the individual seller and property.

I previously assumed we shouldn’t bother looking at offers over £X unless we could afford £X.

However, I’ve just asked to view a property which is similar: on for offers over £X, recently reduced. I was very upfront with the estate agent that we can’t afford £X. The absolute top of our budget is £X minus £20k. I expected to be laughed off the phone. Instead the estate agent said that’s fine as long as you’re proceedable, and booked in the viewing!

carriedout · 22/04/2023 21:21

Whatever they say you offer what you think it is worth. They can say yes or no.

escapingthecity · 22/04/2023 21:23

Are you in England or Scotland?

Pammela · 22/04/2023 21:25

This is different if you are in Scotland. Then it’s a bit more convoluted. You need to get the home report; that’s the ‘value’. But where I live, houses then sell for about 15% over the home report..(which is usually about 30k more than the ‘offered over’ figure.)

Original poster
DanceMonkey19 · 22/04/2023 21:27

Thanks all 😊
@escapingthecity England
Ooh good luck @catinthesunshine !
Interesting to read offers under have been accepted in this situation!

OP posts:
mondaytosunday · 22/04/2023 21:34

Yes I always ignore offers over. Just offer what you would if it was just a 'guide price'.

catinthesunshine · 22/04/2023 21:56

DanceMonkey19 · 22/04/2023 21:27

Thanks all 😊
@escapingthecity England
Ooh good luck @catinthesunshine !
Interesting to read offers under have been accepted in this situation!

Thank you, and the same to you!

maxi2100 · 22/04/2023 22:10

Offer what you think it is worth.

rattlinbog · 22/04/2023 23:21

Ignore offers over. Often put when buyers are reluctant to reduce but their house is overpriced!

rattlinbog · 22/04/2023 23:21

*sellers

NicLondon1 · 23/04/2023 00:08

I recently avoided viewing a house as it was OIEO - then found out it had sold for ‘close to asking!’ I.e. Under!! So just ignore it.

Phgty · 23/04/2023 01:33

This house was on for 'offers over' but it had been on for 10 months, I offered £25k under and it was accepted.

Flowerie · 23/04/2023 03:48

We offered on the asking price a couple of years back for the offers over and it got accepted although we did eventually get a reduced price post building survey. We did regret not offering under though however the real estate claims there was another party who also offered the asking price - so yes I would just ignore “offers over” bit also

DrySherry · 23/04/2023 09:20

Don't be put off by it as others rightly point out. The market is having an adjustment due to the new costs of borrowing. In general both seller's and agents are still struggling to adjust to the new status quo imo.

I would always try to balance my first offer at a point I expect to be refused at, and then make my way up from there.

2nd · 23/04/2023 09:30

We offered under for a house that was offers over, and got told off by the owner for not following the sale instruction - they refused to deal with us.😂

Chowtime · 23/04/2023 09:32

Ignore it and offer what you think the house is worth. Check how much they paid for it originally, and when.

bellswithwhistles · 23/04/2023 09:34

Ours in on for offers over. Won't be selling it for under as won't be able to afford the house I want.

TBH if it doesn't go soon, I'll be taking it off! It's already £25k less than a house up the road sold for!

Original poster
DanceMonkey19 · 23/04/2023 13:45

bellswithwhistles · 23/04/2023 09:34

Ours in on for offers over. Won't be selling it for under as won't be able to afford the house I want.

TBH if it doesn't go soon, I'll be taking it off! It's already £25k less than a house up the road sold for!

Hi, can I ask why you decided to go for offers over rather than the minimum you need to sell for plus some extra to give negotiating room? Was it on the advice of the estate agent? Not being critical at all, genuinely interested

OP posts:
thelinkisdead · 23/04/2023 22:33

Our EA told us ‘offers over’ may put buyers off. The house we’re buying was OIEO and we offered under and were accepted. It had been on the market a while though.

I actually think a lot of people are putting their houses on for too high at the moment - not realising the market has stagnated somewhat!

maxi2100 · 23/04/2023 22:49

2nd · 23/04/2023 09:30

We offered under for a house that was offers over, and got told off by the owner for not following the sale instruction - they refused to deal with us.😂

Sellers like that are pathetic. Acting like children. You are better off not dealing with them.

wistfullyfocused · 24/04/2023 09:01

2nd · 23/04/2023 09:30

We offered under for a house that was offers over, and got told off by the owner for not following the sale instruction - they refused to deal with us.😂

I wonder if they ever sold.

Anyone is free to offer what they like. We once made an offer and then told the vendor it would remain on the table (whilst they tested the market). They didn’t like it, but they eventually sold to us.

organisedmother · 24/04/2023 16:43

It means nothing! Offer what you think the property is worth to you, i just offered on a house that said offers over 400k it was reduced from 420k I offered 375 take it or leave it, they took it.

I’m in a position where I don’t need to move and they are in a position that they do need to move, find out all the info you can from the estate agent before you offer.

I also sent an essay on why I was offering that price and why I am not negotiating it, be very formal they will more likely accept your offer.

good luck

BlueMongoose · 25/04/2023 10:11

carriedout · 22/04/2023 21:21

Whatever they say you offer what you think it is worth. They can say yes or no.

Quite. Which is why I loathe OIRO, Offers Over, and all that rubbish.
Offer what you think it's worth to you. Politely, of course.😉