| Comment | entirely understand your reasons for doing it; I'm trying to argue it doesn't just work against buyers, it actively works against the sellers too
we wasted our first couple of months trying to buy a place not knowing this 'system' and in retrospect putting in stupidly low offers because we'd taken 'offers over' on face value
so while a proportion of buyers from within Glasgow know the situation and do bids that you're expecting, you have no idea how many of the bids you received were actually way lower than they might have been because they didn't have any quantitative measure of your expectations. Imagine what a buyer moving from London, for whom our property values are chickenfeed, might bid if they actually knew what the minimum price really was.
when I sell my flat, I'm definitely putting it on at offers over valuation because I think this increases the chance of higher prices at closing by widening the pool of buyers rather than filtering for those who 'get' the system |
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