"Offers Over"

[physichull]

Just want a quick bit of advice really.

I am currently house hunting and am seeing many properties advertised as "Offers over £XXX" for example.

How do people read this terminology? Do sellers put this on to try and state that they will not accept offers which are lower, in order to try and attract a higher price?

Or should you just be bold as the buyer and just treat it as a regular price listing and go ahead and offer something much lower than the price?

In this instance, I am looking at a house that has been on the market for a long time, just round the corner from where I currently live. It must have been on the market for about 6-7 months, initially at "Offers over £180,000. It has now been "Reduced" to "Offers over £175,000".

Really, I can't afford £175,000, but I could put in a cheeky offer that is WAY below the price. What are your opinions?

 

[physichull]

What's the worst that can happen?

Of course, but, why do people put this tagline in? I reckon they are desperate to sell it though, as its been on a long time.

The sort of offer I would be putting in though, would be around the £160,000 mark, so it is considerably lower than the "Offers over" amount.

 

[physichull]

The kitchen is modern, but hideous, the downstairs space, garden and conservatory are great though. Upstairs bedrooms have fitted wardrobes, which are also hideous and would need redecorating.

Not many houses on that street have sold lately, and certainly none that are similar to fairly compare it to really. Its hard to tell.