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Original poster

Can you negotiate when a house for sale that says offers over?

32 replies

CCMummy5 · 28/04/2024 16:02

Just looking for some helpful tips. I am looking to purchase a house on my own, which I haven’t done before.
Last time I was married and we worked together during the house buying process. It’s a different ball game doing it alone.
I have seen a house that fits what I need, it has an asking price of offers over 250,000. My budget won’t stretch that far, however the house has been up for sale since January and I’m in a good position / I’m not in a chain, got a deposit and I’m ready to go.
Do you think it’s possible to go in with an offer below what they are asking in this case? As the advert specifically says offers over.
Thanks in advance for any helpful insight 😊

OP posts:
MagpiePi · 28/04/2024 16:08

You can offer what you want but be prepared to be turned down!

Twiglets1 · 28/04/2024 16:12

Yes @CCMummy5 you can definitely make an offer that is below the OIEO suggestion.

If the price hasn't been reduced since January, then a price reduction is way overdue, and the EA should be advising the owners to reduce by now. So you making an offer may help the owners to understand the sort of price they are likely to achieve on the property.

Original poster
CCMummy5 · 28/04/2024 16:13

MagpiePi · 28/04/2024 16:08

You can offer what you want but be prepared to be turned down!

Thanks, that’s what I was expecting but thought it’s worth a try maybe...
I just don’t want to annoy the seller and agent if it’s frowned upon to go lower when they’ve specifically asked for offers over.

OP posts:
Original poster
CCMummy5 · 28/04/2024 16:16

Twiglets1 · 28/04/2024 16:12

Yes @CCMummy5 you can definitely make an offer that is below the OIEO suggestion.

If the price hasn't been reduced since January, then a price reduction is way overdue, and the EA should be advising the owners to reduce by now. So you making an offer may help the owners to understand the sort of price they are likely to achieve on the property.

Thats a good point. It’s in a desirable area, so I doubt I would be the first to offer.

OP posts:
YeahComeOnThen · 28/04/2024 16:19

its absolutely fine, offer what you can afford.

what are you going to offer?

who knows what's going on behind the scene, but hopefully they'll see sense & accept your offer!!

WhyDoesItAlways · 28/04/2024 16:20

We offered lower on an OIEO property and got it. Just make sure you go in with your whole offer, not just the price you're willing to pay but your proceedable position as sometimes that is worth more than extra cash. Particularly if they've got their eye on an onward property that they don't want to loose.

Original poster
CCMummy5 · 28/04/2024 16:43

YeahComeOnThen · 28/04/2024 16:19

its absolutely fine, offer what you can afford.

what are you going to offer?

who knows what's going on behind the scene, but hopefully they'll see sense & accept your offer!!

I was thinking of offering 9.5% below asking, as that is my max, just worried about it being too much and of a cheeky offer.

OP posts:
Original poster
CCMummy5 · 28/04/2024 16:44

WhyDoesItAlways · 28/04/2024 16:20

We offered lower on an OIEO property and got it. Just make sure you go in with your whole offer, not just the price you're willing to pay but your proceedable position as sometimes that is worth more than extra cash. Particularly if they've got their eye on an onward property that they don't want to loose.

Thanks! Yes I would definitely do that, as it may help if they’re wanting to move fast, as I do too 😊

OP posts:
PinkyU · 28/04/2024 16:45

If you’re in Scotland I think you’d be deemed as being not serious at best and quite cheeky at worse.

Original poster
CCMummy5 · 28/04/2024 16:46

The house also needs modernising, so I’m not sure whether to also mention that, but I love the house and don’t want to piss anyone off as I know from experience how emotional it is when selling a home.

OP posts:
Saschka · 28/04/2024 16:49

I personally treat “Offers over” “Asking Price” and “Guide Price” as exactly the same - if they’ve had better offers they won’t take it, if they’ve had no other offers they won’t reject it out of hand.

Obviously some sellers have no pressure to sell, and so will never accept any lower offers, but that doesn’t mean you were wrong to put the offer in.

HappiestSleeping · 28/04/2024 16:51

@CCMummy5 don't forget that there will be further room for negotiation once you've had a survey done. This could well highlight additional items that provide more leverage.

bravefox · 28/04/2024 16:51

PinkyU · 28/04/2024 16:45

If you’re in Scotland I think you’d be deemed as being not serious at best and quite cheeky at worse.

We've twice bought 'offers over' properties for less then the stated price, but in both cases they'd been on the market for quite a while already.

If it's newly on the market though I agree you haven't got much chance

bows101 · 28/04/2024 16:56

I'd always ignore that and offer what I thought/would be prepared to pay for. £23750, is however quite a lot off so likely the seller may not accept. But you never know their situation/urgency to sell so you may get a win! Good luck.

schloss · 28/04/2024 16:58

CCMummy5 · 28/04/2024 16:46

The house also needs modernising, so I’m not sure whether to also mention that, but I love the house and don’t want to piss anyone off as I know from experience how emotional it is when selling a home.

@CCMummy5 Do not mention this in your offer.

As others have said the OIEO, OO or guide price are all much of a muchness really, just EA speak.

You are in a strong position with having no chain and finances ready. Do not give chapter and verse to the offer though, highlight your position, including you are prepared to work with the vendors timescales for moving, so you come across as flexible. As long as you are of course! Then at the end of the short email, give the price. If the amount you give is really your final amount, say this is the amount I will pay and it is your final offer. The most important bit is if it is not accepted to say to the agent, thank you I will leave it on the table, then you must continue to look at other houses and be prepared to walk away from this one. Good luck.

Original poster
CCMummy5 · 28/04/2024 17:03

schloss · 28/04/2024 16:58

@CCMummy5 Do not mention this in your offer.

As others have said the OIEO, OO or guide price are all much of a muchness really, just EA speak.

You are in a strong position with having no chain and finances ready. Do not give chapter and verse to the offer though, highlight your position, including you are prepared to work with the vendors timescales for moving, so you come across as flexible. As long as you are of course! Then at the end of the short email, give the price. If the amount you give is really your final amount, say this is the amount I will pay and it is your final offer. The most important bit is if it is not accepted to say to the agent, thank you I will leave it on the table, then you must continue to look at other houses and be prepared to walk away from this one. Good luck.

Edited
Show quote history

Love this advice, thank you. I really do want to be respectful!

OP posts:
Original poster
CCMummy5 · 28/04/2024 17:05

bows101 · 28/04/2024 16:56

I'd always ignore that and offer what I thought/would be prepared to pay for. £23750, is however quite a lot off so likely the seller may not accept. But you never know their situation/urgency to sell so you may get a win! Good luck.

That was my worry that my max is a lot lower than their asking. I will speak to the agent and try and get an idea of their feelings about the sellers position.

OP posts:
Saschka · 28/04/2024 17:07

PinkyU · 28/04/2024 16:45

If you’re in Scotland I think you’d be deemed as being not serious at best and quite cheeky at worse.

Oh interesting, is it the amount under that you’d see as rude (I’d say 5% under is a standard amount for an offer, agree 10% is a fairly big discount)?

Or is just the very fact of offering under seen as cheeky in Scotland?

Original poster
CCMummy5 · 28/04/2024 17:09

PinkyU · 28/04/2024 16:45

If you’re in Scotland I think you’d be deemed as being not serious at best and quite cheeky at worse.

Yes I don’t want to come across like that, it’s genuinely the max I can go to. I am looking at other properties, so wonder whether I just wait and see if they do reduce.

OP posts:
therubbleoroursins · 28/04/2024 17:10

If you can't afford more than your max, what do you have to lose by offending the seller? They likely only have this one property to sell...

superj21 · 28/04/2024 17:11

@PinkyU in Scotland, offers over is really just a guide. The offers over figure is always lower than the home report value of the property, and the expectation is generally that you offer over the home report value. If it's a competitive area it can for for 20%+ over the home report.

superj21 · 28/04/2024 17:11

Sorry that reply was for @Saschka !

Original poster
CCMummy5 · 28/04/2024 18:00

therubbleoroursins · 28/04/2024 17:10

If you can't afford more than your max, what do you have to lose by offending the seller? They likely only have this one property to sell...

That’s true, I can I least let them know my offer. I will view the property and update you all.

OP posts:
YeahComeOnThen · 29/04/2024 12:41

CCMummy5 · 28/04/2024 16:43

I was thinking of offering 9.5% below asking, as that is my max, just worried about it being too much and of a cheeky offer.

Show quote history

@CCMummy5

i would go for it, explain it's your best & final. The worst that can happen is they'll say 'No'. There's NOTHING wrong with putting in your best offer.

YeahComeOnThen · 29/04/2024 12:47

CCMummy5 · 28/04/2024 16:46

The house also needs modernising, so I’m not sure whether to also mention that, but I love the house and don’t want to piss anyone off as I know from experience how emotional it is when selling a home.

@CCMummy5

i wouldn't do that, as (to me anyway) it looks like you're holding money back to do the work. I'd just go in with my top offer and make it best & final.

(be careful you're not over paying though with what's on the market - not their OIEO.
Dont put yourself in a position of having to live in a house that doesn't have all working facilities!! It's ok if the decor is a bit rank, but not if it doesn't have a shower or something & you've no money left to sort it!!)