When looking to buy a property, you’ll notice that estate agents use various terminology and jargon when listing the marketing price. What do they even mean? And how do these different phrases affect you when you’re making offers?
Deciding on the price to market your home for is super important. Go too high, and you risk putting viewers off. But you also don’t want to go too low and sell your home for less than it’s worth, do you And if you’re looking to buy a property, what offer should you make? How do you know what price to put forward?
If you offer too low, the sellers may be offended and refuse to negotiate with you. Similarly, you don’t want to go in too high and spend more of your hard-earned money than necessary.
Negotiating to buy a property can be tricky, especially in a busy market where sellers have multiple offers to choose from. If you get the offer stage wrong, you’ll probably miss out on that property altogether.
Whatever terminology is used, it almost always means that the advertised price for a property is simply a guide. It’s an invitation for you, the offeror, to make an offer, somewhere in this price range.
However, the prefix can sometimes tell you additional information about the seller and their expectations.
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Offers around
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Offers invited
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Guide price
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Offers in the region of
The above options are all an invitation to make an offer in this general area. So, if a property is on the market for £200,000, the seller is likely to be looking for offers in the range of £190-210k. The ultimate selling price is not capped at this figure, though. It may go higher depending on the interest levels and other offers. If the seller has tons of viewing appointments booked in or has already had offers, they’ll probably be less inclined to negotiate much on their price. However, if the interest in the property is low, there could be an opportunity to negotiate down.
In contrast, the following prefixes tell you that the sellers are looking for something different.
There are many ways to present the price when selling a property and you want to make it as appealing to buyers as possible.
And as a buyer, you need to take notice of the terminology used so you can be sure your offers are within the range the sellers are looking for.
If you’re looking to buy a property, make sure that you are registered with our ‘Heads Up’ property alert to keep you informed of all new properties that we put on the market BEFORE they go onto the property portals .
If you are thinking of selling but don’t feel you are quite ready for that just yet, why not try our instant online valuation?
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