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what does offer around mean on house prices

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The house I'm looking at is stating offers around £135000 So what does this mean? What could I offer? Read More
Ger73 Avatar
1m, 2w agoPosted 1 month, 2 weeks ago
The house I'm looking at is stating offers around £135000
So what does this mean?
What could I offer?
Ger73 Avatar
1m, 2w agoPosted 1 month, 2 weeks ago
Options

All Responses

(16) Jump to unreadPost an answer
Responses/page:
#1
That is what the vendors wants, but just offer lower, if they don't accept, then you can increase your offer.

where can you buy a house for £135k?
#2
Around £135000. Are you sure you're old enough to own a house?
#3
Go low and meet in the middle!

125000 is 'around' 135000

Also, 145000 is 'around' 135000


The property may be deliberately priced low to attract interest to get multiple people 'bidding' and thus getting the going rate or more

Or, it may be priced too high so they're fishing to get more money by inviting people to think they're getting a bargain by under offering (and thus paying the actual market rate)

Start low, if they laugh you off then walk away and play the waiting game, if they haggle you up just a bit, decide what you want to pay them stop!

Edited By: Bleugh on Mar 11, 2017 18:48
#4
well offer 125000 if they don't accept go up to 127000 129000 etc u should be able to get it for the 135000 mark or less depending on how many people are interested and if you have all your cash or paperwork (morgage ) sorted then you have a better chance..
#5
Ger73

The house I'm looking at is stating offers around £135000
1/ So what does this mean?
2/ What could I offer?

1/ This is the asking price, by advertising 'offers around', this means the seller is looking ideally for £135k, but is open to offers below this figure.

2/ Any amount you like.

A1 is my experience with buying / selling in Scotland where the selling/offers process is different than England, where are you located OP?
#6
It all depends how many people are interested. If there are a few people then the price can actually be higher than the stated price as you will be battling it out. Most properties have a price but its rare to offer the asking price unless there is a good reason such as its a good price and you know others will be putting in a bid for it.
#7
I'm located in Northern Ireland guys
#8
craigstephens
Around £135000. Are you sure you're old enough to own a house?

What's that mean?
#9
andynicol
Ger73

The house I'm looking at is stating offers around £135000
1/ So what does this mean?
2/ What could I offer?
1/ This is the asking price, by advertising 'offers around', this means the seller is looking ideally for £135k, but is open to offers below this figure.

2/ Any amount you like.

A1 is my experience with buying / selling in Scotland where the selling/offers process is different than England, where are you located OP?


I'm in Northern Ireland andynicol
#10
bubblegum2910
That is what the vendors wants, but just offer lower, if they don't accept, then you can increase your offer.

where can you buy a house for £135k?


135k is quite a bit u can buy a really nice one in quite a few places u can buy house for around 50k in quite few places and that's not like u need search for ages.

Edited By: MynameisM on Mar 11, 2017 19:40: typos
#11
Unless you know other offers are already on the table, offer low to start to gauge interest and work from there.

Is it worth the asking price in your opinion?

You can ask the agent what sort of interest there has been on the property.

If there are a number of bidders it could sell for 10-15k over, if no bidders and seller is in a rush then you could try knocking that (or more) off asking price. Worst case they say no and you try higher, or they may even suggest what their lowest price would be.

Edited By: delusion on Mar 11, 2017 19:44
#12
You can offer whatever you want, the closer to the asking price the more likely they will accept.
#13
who is it on with is it a normal estate agent or one of the dodgy ones like springbok or express estate agency if it's one of them it means nothing really I tried sell my property with them market value was around 110k they suggested put the price at 75k with offers above pointless idea in my opinion as those that want buy property which is worth more usually dismiss it as they think there maybe something wrong with it and the few how see it try offer low than the price it's on as that's what a normal person would do. So really depends on the estate agents look at some of there other properties to see if it's a marketing gimmick or its a real priced one if so offer what u think it's worth it too u.
#14
craigstephens
Around £135000. Are you sure you're old enough to own a house?


What's that got too do with the question weird.
#15
Ger73
andynicol
Ger73

The house I'm looking at is stating offers around £135000
1/ So what does this mean?
2/ What could I offer?
1/ This is the asking price, by advertising 'offers around', this means the seller is looking ideally for £135k, but is open to offers below this figure.
2/ Any amount you like.
A1 is my experience with buying / selling in Scotland where the selling/offers process is different than England, where are you located OP?
I'm in Northern Ireland andynicol

I'm not familiar with the process in NI.

In Scotland a buyer would submit an offer on a property (using your example of offers around £135k), of £135k, seller accepts this offer, solicitors/estate agents exchange offer/confirmation, missives are then produced and signed by both parties, deal is now conclusive and if either buyer or seller retracts there offer/acceptance then they are liable for any fees due by both parties.

In England I believe missives are only produced at the latter stages, (sometimes as late as the actual date of changing hands?), meaning either party could retract there offer/acceptance with no recourse, meaning the seller can accept higher offers or the buyer can submit offers on multiple properties and pull out of any at the last minute.

Both systems have pros and cons, but I do prefer the Scottish process, everyone knows where they stand at an early stage of the buyining/selling process and can plan ahead accordingly.

I have no idea what process is in place in NI, but what I would advise is research what the going rate for said property is, do they sell for market value? do they sell really quick? is the seller keen to sell quick? would there be lots of interest in the property?

Answers to these questions would directly relate to the offer any buyer would be considering making.

i.e. you view the property and the owners are keen to move as they are expecting a new baby = potential for a cheeky low offer
property is in move in condition = fair to say an offer below the market value would be rejected
owners have to move to another town due to work relocation = again, cheeky low offer may seal the deal
single man has decided to move in with partner, therefore selling one property = seller is in no rush, will hold on for above market price offer

When viewing the property, ask plenty questions to get the background of the owners and of the property.

Family circumstances, work situation, even financial situation, its amazing what you can pick up when asking innocent questions on a viewing.


Good luck.







Edited By: andynicol on Mar 11, 2017 22:23: .
#16
andynicol
Ger73
andynicol
Ger73

The house I'm looking at is stating offers around £135000
1/ So what does this mean?
2/ What could I offer?
1/ This is the asking price, by advertising 'offers around', this means the seller is looking ideally for £135k, but is open to offers below this figure.
2/ Any amount you like.
A1 is my experience with buying / selling in Scotland where the selling/offers process is different than England, where are you located OP?
I'm in Northern Ireland andynicol
I'm not familiar with the process in NI.
In Scotland a buyer would submit an offer on a property (using your example of offers around £135k), of £135k, seller accepts this offer, solicitors/estate agents exchange offer/confirmation, missives are then produced and signed by both parties, deal is now conclusive and if either buyer or seller retracts there offer/acceptance then they are liable for any fees due by both parties.
In England I believe missives are only produced at the latter stages, (sometimes as late as the actual date of changing hands?), meaning either party could retract there offer/acceptance with no recourse, meaning the seller can accept higher offers or the buyer can submit offers on multiple properties and pull out of any at the last minute.
Both systems have pros and cons, but I do prefer the Scottish process, everyone knows where they stand at an early stage of the buyining/selling process and can plan ahead accordingly.
I have no idea what process is in place in NI, but what I would advise is research what the going rate for said property is, do they sell for market value? do they sell really quick? is the seller keen to sell quick? would there be lots of interest in the property?
Answers to these questions would directly relate to the offer any buyer would be considering making.
i.e. you view the property and the owners are keen to move as they are expecting a new baby = potential for a cheeky low offer
property is in move in condition = fair to say an offer below the market value would be rejected
owners have to move to another town due to work relocation = again, cheeky low offer may seal the deal
single man has decided to move in with partner, therefore selling one property = seller is in no rush, will hold on for above market price offer
When viewing the property, ask plenty questions to get the background of the owners and of the property.
Family circumstances, work situation, even financial situation, its amazing what you can pick up when asking innocent questions on a viewing.
Good luck.

Thank you for all the info will certainly take this on board whilst viewing property next week

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