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How long has it been on? I've also seen it done when the price has been dropped but the person selling isn't really prepared to drop it much so I think the estate agent uses OIEO as a sop to them whilst trying to get it sold.
The one I bought was more like this and I went with £10k under asking. I'd seen enough properties by then to know it was worth about asking but not over.
What you think it's worth to you really needs to be your guide to what you offer, as vague as that sounds.
aggi-
The one we made the offer on pre-Covid was listed on the Thursday for 400k OIEO, we viewed on Saturday (with a constant stream of other people) and offered 400k, it sold on Monday morning for 450k+. It was nice, but not that nice...
Asking the question because we're now in a position to start looking again, with an offer our current place. But I don't want to waste time viewing properties that are listed within budget, but will realistically end up selling for more than we can afford. If that makes sense.
jackincaves
When a property in E17 is listed as "£x OIEO", can that be translated as "The property is valued at x+10% but we want to lure in as many viewings as possible to create an inflated sense of demand"?
Any advice on what level to go in at with a first offer in that scenario? Before the shit hit the fan and we shelved everything for a bit, we put an offer in of 400k on a flat listed at 400k OIEO. It apparently sold for 'more than' 450k.