What are the benefits of selling your property with ‘offers over £X’ over setting a fixed price?
It’s a very common question how people should price their house, should they just give it a fixed price or an offer over, offers in the region of, etc.
I think it really depends on the property and the market conditions locally.
So in a very good market people do often use an offers over price, because that way you’ve got a low bottom line, so the property is found very easily on property portals and through estate agents for example, but you are encouraging people to bid over the price.
However, on the other hand, that does put other people off. They don’t want to get into an auction or bargaining situation.
So you will find that you alienate some of your potential catchment of buyer.
So I think take good advice locally, that could be from a number of estate agents who know the area and your property well or from a local surveyor for example, and then I think you need to do what’s right for your position.