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'Offers under'

Discussion in 'The Buying & Selling Process' started by Spiderman, 31st Jul, 2016.

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  1. Spiderman

    Spiderman Well-Known Member

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    We're used to seeing 'offers over '$X' in property ads.

    Otherwise agents may give a price range or single price (where you'd typically offer a bit less).

    But there's one where the agent is inviting 'offers under'.

    19/10 Caprice Road, Geraldton WA 6530 - Apartment For Sale - 2012518608

    I wonder if that will tempt someone to put in a stupidly low offer?
     
  2. larrylarry

    larrylarry Well-Known Member

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    What's the valuation? Offer something much less than the valuation.
    "Now selling below valuation price. Owner is in desperate need of a sale and wants it now."
     
  3. Big Will

    Big Will Well-Known Member

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    I know nothing about the market but it really doesn't seem to crazy of a sale. It is less than what the owners paid but according to Home Hero it is pretty much on point with their calculation of MV.

    upload_2016-8-1_15-13-18.png
     
  4. JacM

    JacM VIC Buyer's Agent Business Member

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    Could be a typo... they may have intended to write "over" rather than "under"...
     
  5. Marg4000

    Marg4000 Well-Known Member

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    Actually w e sold a property this way years ago. The expected price range quoted was $375K to $400K. Advertised at offers under $399K and sold for $396K.

    Asked the agent about the wording, and he said that if we said "offers over $375K" then that was the figure in buyers minds and offers would be close to that figure. By using the offers under wording, the buyers focussed on the higher end of the price range.

    Worked for us.
    Marg
     
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  6. Scott No Mates

    Scott No Mates Well-Known Member

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    All a mindset thing with pricing. There is no difference between putting a listing price of $399k or offers under $399k. If there's an asking price buyers will always seek to drive the price down below asking, it's just a matter of how far below asking is acceptable to the vendor.