"offers over" How much does this mean?
We are starting to look into buying a property ready for our arrival in October. Many of the places we are interested in have an offers over price, what I need to know is what this means in real terms what would an offers over $339,000 actually go for do you think? We have a budget of about $350,000 and I don't want to fall in love with a place I haven't actually got a hope of affording.
thanks in advance
you would think that offers over $... would mean that is the least they would settle for, sometimes it does, sometimes it doesnt!
Are you looking at houses on the internet to buy before you get here?
If so be VERY careful, because they can make the houses look very nice in photos. We look on the net before then go to the opens and some of them look nothing like it when you get there,which is to do with the way the camera is set up (makes rooms look bigger).
We saw a very interestnig house on the net yesterday, we knew it needed a LOT of work but when we got there it had rising damp and the toilet leaked and it stunk, these sort of things are not visible by photo!.
I agree with Sarah - when we were looking for a rental we saw some lovely houses online only to find they were nothing like the pictures when we went to look. Some were so far from what we had seen we even wondered if we were in the same house
I am sure it is mandatory for Real Estate Agents to go on a creative photography class We did have friends that actually bought a house for less than the offers over price so think it depends how long house has been on the market and how much interest there has been etc
I'm quite abrupt with agents now.
I ask point blank "what do you actually want for this property???"
Don't be scared of those agents................
We know its a bit of a risk buying a house without seeing it, but we've had a couple of kind offers from people who'll have a look on our behalf and tell us if they're a dump, the places we are considering are fairly new and if we don't like it we can always sell. We just want to get a foot on the ladder and are sick of paying someone elses morgage, (renting in UK at present)
Jen & Ian
It is Ok to get people to look for you if you are sure about the people, I dont mean trustworthy, but if they are like you, do they like the same things and see things the same as you? Dont forget also you pay stamp duty here when you buy a property. I understand not wanting to pay someone elses mortgage, but that renting time will give you a chance to find the right house and area.
Originally Posted by jen&ian
I certainly agree with Sarah on this one.
We have just bought a house in an area I never thought I would live in a style of house I never thought I would buy.
I am renting in an area I had never considered either. I can understand you being reluctant to pay someone else's mortgage but I would really take the time to have a great look around.
Tyke gives good advice...it depends on how long the property has been available as to how strictly the house price will be adhered to.
Hope this helps
Just becareful too with the price guide. What the owners are asking for and what people will pay can be a huge margin.
Ian and I went to an opening in Hallett Cove, the price guide said offers over $700,000. It was totally way off, I would have said more like $500,000. Even the estate agent agreed with that figure.
Best of luck with the move
$400 thousand ,$500 thousand, $700 thousand, s**t these must be some pads your all looking at? way outa my price range. i thought houses were cheaper there? mind you we're just happy with a smaller place and a little mortgage, we'll probably only have $200 grand to start off with....!i don't know is the house so important..? Stu
Last edited by dglamoore; 21-07-2007 at 10:56 PM.