04-10-2024, 06:35 PM
In Scotland we have an "offers over" system when buying homes.
The estate agents will often list homes at amounts that are low to attract lots of bids and interest. The sale price often bares no resemblance to the "offers over" price.
20 years ago, in a fit of complete lunacy, we bid £103000.00 over the asking price for a cottage near Aberfoyle - thankfully there were people prepared to offer more and we were spared a life of debt.
The cottage was nice, but not that nice!
In short, the undervaluing of items is a superb strategy to ensure lots of interest and bidding...
The estate agents will often list homes at amounts that are low to attract lots of bids and interest. The sale price often bares no resemblance to the "offers over" price.
20 years ago, in a fit of complete lunacy, we bid £103000.00 over the asking price for a cottage near Aberfoyle - thankfully there were people prepared to offer more and we were spared a life of debt.
The cottage was nice, but not that nice!
In short, the undervaluing of items is a superb strategy to ensure lots of interest and bidding...