Offers over?

[GoldTurtle]

A property on the market that we have had an eye on for a while is on the market for 340k offers over. Needs all updating a,detached property, no chain owner now in a home. Has been reduced from 350k What should we offer?

Play hardball. 100k or you walk.

Whereabouts are you?

Manchester area

Mmm... not sure that would be ideal.

A great strategy but personally I would only go up to £99,995.

How long on the market ? What's the area / street like ?

Well what's your max your willing to pay? Maybe start at 325?

Lmfao

I offered below the "offers over" when I bought my last property and it was accepted. It depends how long it has been on the market and how desperate they are to sell.

Why not offer 320k?

Does ‘offers over’ usually result in a bidding war ? I never understand how it works !

My house was offers over and they were willing to accept 10k less.

I'd offer £700k.

Double the price, that's why they call me Terry Tibbs.

Call the estate agent and ask them:

• how long it’s been on the market
• whether there’s been any offers on the property (what they were & whether the offerees were proceedable)
• how many viewings they’ve had in the last couple of weeks and if any are booked in.

I’d probably go in at 5% under initially and see where it goes.

The estate agents will say anything to get a sale. They're hardly going to say there hasn't been any interest or no viewings or no offers. You have to think about what it is worth to you, what you want to pay / the highest you are prepared to pay. Could this be your dream forever home or are there others on the market that could tick the boxes....

Based on your research of anything similar how much do you think it's worth? I am not a big fan of selling something as offers over £x however by doing so they clearly want offers over that amount, so by coming in at tens of thousands under will make you look like timewasters.

I would always just ignore the offers over unless it was very very new to the market. Just offer what you think it’s worth,

I’m buying a house at the moment and the estate agent told me when I asked! 24 viewings and no offers. If you go into the branch and ask to speak to them about a specific house they usually get it up on their screen. With Saxton Mee when they bring the house up, at the top it says the number of viewings and the number of offers. Worth making the trip in IMO!

If it didn’t say “offers over” what would you think it was worth. Mine was on at £515, but I thought it was actually underpriced so would’ve gone to £530. In fact I eventually paid £505, so did really well. But my point is if you are looking at others in the area you should have a sense of what you think it is worth. That should be the max you pay.

Ignore the offers over, it’s a red herring. Go to what you think, if it isn’t the list price or more, still put in your offer.

When did it come on originally?

Normally people just ignore the ‘offers over’ bit, and offer whatever they want to. Usually below the price that is being asked.

I would just say, tradesmen are so expensive now, so if it all needs doing it could cost easily 100k! How much are 'done up' houses going for in the same area? Cost that into your offer and maximum offer.

Trump is on MN! 🤣

On the market since last April.

How much would you need to spend on it? Are all the updates cosmetic?
I think this often depends on how much you want the property. If you offer £320k are you willing to lose it if someone else offers £330k?