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Things have moved on a bit since I last sold a house and I'm now trying to decide between "fixed", "offers over" and something new called "offers around". I see the latter as an immediate concession that you"ll accept less than the advertised price so it doesn't really attract me.
Anyone got some recent experiences that might help guide me?
right now in scotland - unless your in a very desirable area it all means "offers near to but generally under"
fixed prices at the right price seems to sell quicker as folks esp first time buyers in no chain want to avoid closing and having to offer over.
Depends where you live and what the housing market is like there. I don't see many houses priced at 'offers over' at the moment. Also depends how desperate you are to sell.
I'd ask a local Estate Agent for advice tbh.
We sold ours 18 months ago using an offers over price in the first instance - didn't get any offers over as I recall and this was in EH10 - the promised land. Settled for something a bit under in the end. I didn't really rate our solicitor for advice on pricing (although he was very good in other ways) - good advice here makes all the difference.
It seems a bit of a Mexican stand-off in Edinburgh, to generalise a bit. There's a lot of fundamental quality to the housing market in a lot of areas so sellers aren't going to entertain silly offers because they know they'll shift the property eventually. But in the current climate no buyer's going to shovel in OTT offers. Advice of a good solicitor is helpful to navigate this middle ground.
All are offers around, no matter what you put. Mine was offers around got reasonable offer, sisters was fixed price got an offer a couple of £k less.
[quote=onehundredthidiot ]All are offers around, no matter what you put.
See - that's my interpretation too. Anything you ask for is just a start to negotiations, even if it's "fixed price". but it's all about perception and my Mrs has a different view (as does the estate agent). I'm asking on here because it's folks perceptions that's important.
Just sold a flat in Aberdeen 11 days ago, i went down the route of offers over. Valuation price was X, offers over price was X - a bit, flat sold in 8 days for X + a bit.
Get a few estate agents round to give estimated valuations, it all comes down to the home report valuation as this is what people can get a mortgage up to.
I know the Aberdeen market is different to the Edinburgh one, speak to a few estate agents especially try and find some that have sold properties in your area recently. They will tell you what they went for and have a better grasp on the market for your specific location.
Try this with your postcode
OurProperty.co.uk
Start off with offers over, and then see how many viewings you get and talk to the folk who come.
If they have anything about them and they like the place, they may be tempted to make an offer to take it off the market.
Nothing to lose.
if it's nice, near the Pentlands, and <160k, I'll take it 😛
And don't forget to consider stamp duty thresholds.
I guess the issue is not so much what you hope to get (as per Rusty above) which is basically a mnarket valuation, but the perception that fixed == want to shift quicky, offers over == open to negotiation and offers around == possibly quite desperate.. or some such.
Last moved 8 years ago so no idea on current perceptions but as above, I'd expect that all are really words, give an opening gambit. Used to get caught (in Edinburgh) so much by offers over X when what they were looking for was X + 35% min - I take it it's no longer like that any more??
Sold end terrace in Edinburgh, moved to detached in Elgin and pocketed the difference 🙂