When looking at a property and it has a price with offers in the region off, is that generally to say you’ll probably needed to offer more than or we’d be happy with anything up to and close to that?

Scotland? My reading (maybe too literal) is the latter – i.e. up to and (they’d be delighted) the figure. Otherwise it’d be offers over.. But I think the slump saw put to the O/O style of selling.

I’d go in lower. Maybe even less than the “region of” if I was feeling cheeky, at least it gets the ball rolling.

Same as ONO I thought.

Oiro = lazy estate agent, offer what you think is right and don’t be pushed 🙂 walk away if its not a good deal for you

It’s language designed to get you to pay as much as possible by suggesting the place is worth a certain amount…
Get a look at Land Registry and see what similar properties in the area have been sold for recently and benchmark your offer against that rather than what the estate agent is trying to con you into paying

We looked at several houses last year that were looking for offers between X and X+10% (or more). At every viewing we asked what they would accept and every one of them came back with X+10%. I would then ask “If you want X+10%, why are you looking for offers as low as X?” to which none of them had a reply.

IMO it’s just a way of getting people inside the house on the premise that X might be a goer.

Christ knows with some vendors!!! I am 100% sure some folk don’t actually want to sell their house.

Estate agents sites search engines have pricing bands rounded up to 25k or 50k sort of figures. If they want to maximise hits on the property, they hedge their bets. We recently had to sell Mum’s house. The Estate agent insisted it was worth £400k all day long, but suggested we either advertised it for £399,950 and stood firm, or advertised it at £415,000 and allowed some slippage. Apparently if we overpriced it we wouldn’t get the sub £400k market interested in it, and the snobs wouldn’t look at it if we priced it under that figure. Either way, we were in for a long haul as “that sort of figure is awkward in today’s climate”. He was talking bollocks anyway. We sold it to the first viewers within 48 hours of advertising it. For cash, without a chain, and let them talk us out of 4% of our asking price for the convenience. 😀

Well on our first viewing we really love it . It needs updating throughout but given its location, large plot my initial impression is that it was under valued. We’re also led to believe its a property that has been inherited from a deceased relative so we’re thinking vendor wants a quick sale.

Price is an idea of what they want. Put a note of interest in. Off something close, go low if few/no other notes of interest. If loads of notes of interest they might go worst case scenario which is sealed bids.

If you like it go back and spend some time with the vendors, they’re not the enemy….

Everyone knows a value if they sell… Try and have an honest conversation. It worked for us …

Edinburgh system used to be price expected was 110% of asking price.
Fine if you know the system, if you’ve just arrived in town it could get a bit perplexing!!

We were lucky, an aquaintance was selling their house, said they wanted x for it, asked if there was room for movement, nope, thats the price. Ok that’ll do me. Deal done, price good, hopefully completing in a month.

Bit gutted in that respect, I love a good haggle me.

Just had an offer of £125000 accepted on an ‘in the region of’ £150000. After having a survey and finding out the neighbour was tool of the century we withdrew.
We’re looking for a holiday/retire to home, so cheeky offers are order of the day.

If your first offer doesn’t embarrass you, it’s too high.

Just have 3 prices in mind.
Your offer,
Your next offer
Your Max
Stick to them.

I had all the “vendor is really keen to sell to you, if you could go to £x then i feel they would accept” bluster but used phrases like “no I can’t go to £B, £A is my final offer and then I’m done.
You may not get the property but you will not overpay.

It seems to me that oiro means add 15 per cent and then get massively out-bidded within 30 minutes.

Sorry, that seems negative, but has been our experience time and again in the past. Everyone seems to have much bigger guns (ie deeper pockets). So pleased we finally managed to get somewhere in the end.

After having a survey and finding out the neighbour was tool of the century we withdrew.

Out of curiosity how did this show up?

There seems to be a degree of madness what people will pay at the moment. Sellers and agents are taking advantage of it by posting exaggerated asking prices…

I think that completely depends on location TBF.

Where are you looking OP?

Brooess, you’re in that there London village, and it’s a stand-alone market. Lots of buyers and sellers were worried about a Labour- dominated Government and talk of Mansion taxes, discouragement of overseas buyers etc & it went a bit quiet/soft/whatever. Now it’s five years of Tories, it’s back to crazytime.

Now it’s five years of Tories, it’s back to crazytime.

chin chin…

Chakaping- we’re in Northants area, looking at villages in and around currently.