"Offers over" and can't go over, is it worth going to see it?

[cakehoover123]

There's a nice-looking house near us that has been reduced from £800k to offers over £720k.

We are proceedable but our maximum budget is £660k.

Should we go and see it? Or is that wasting everyone's time?

If it was simply listed at £720k I definitely would, but not sure how seriously to take the "offers over".

Has anyone bid 7% below "offers over" and been accepted?

We recently offered 10k under for an Offers Offer property and it was accepted

Hmm that's quite a disparity and a fair way under asking. I'd ask the agent, they will know if the vendor is in a position to even accept that far under or is likely to. After an already sizeable reduction I wouldn't have thought they would take £660k but you never know?

I think it is worth making an offer. They're not obliged to accept an offer they're not happy with. People often set Offers Over prices to encourage people to make their best offers straight away, but you don't know their circumstances.. it may be that they've received no offers, they're keen to move because they have somewhere in mind, they got a very low offer accepted on a property, and so they're willing to accept lower

Seems unlikely but you could ring the agent and find out.

Depends how desperate the seller is to sell. If they just recently reduced it by £80000 I can't see them immediately accepting an offer another £60000 lower than that. They will want to wait a while and see how there new pricing is received on the market. No harm in taking a look and then watching and waiting though. A friendly chat, without hinting you would be putting in a much lower offer, might produce information of how desperate/or not the sellers are to sell.

I'm guessing the Sellers are looking for at least 700k, in fact they may be looking for at least 720k before they will accept an offer.

However, no one really knows what is the lowest they could go to or whether you are in a good position to make a low offer.

As long as you are in a strong position to proceed, I don't think you are wasting anyone's time by viewing it. If nothing else, it will be useful market research for you. And who knows? It could be an offer they will end up considering in future, even if they aren't ready to consider it just yet.

I don't see it. Usually when a price has been dropped to offers over there won't be that much maneuver.

We just got an offers over property for under. That said, we would have gone over if necessary.

I wouldn’t think there’s much chance with them just reducing the price but there’s no harm in asking.

We got an offers over house for less, but it wasn’t that much less. It’s a big drop, and huge compared to their original asking price. Nothing lost by asking though.

Thank you all for the advice. We will go and see it and then perhaps have a chat with the agent as you suggest!

You can look for sure. If it was me and I put offers over then I'd be expecting offers over.

But everyone's situation is different. You can look. You can offer. Nothing to lose.

I think to go from 800k which was their original asking price before reducing, down to 660k - that’s a huge difference. Where I live the 140k difference from the original asking price would buy you a small house.

I think you're wasting their time. It's such a big discrepancy.

I can’t see them accepting an offer £140k under the original asking price either.