What does OIEO really mean?
Ava Robinson
Updated on February 24, 2026
Offers In Excess Of
Similarly one may ask, can you offer less than OIEO?
You can offer less than the offers over price on a house, but be prepared to have your offer rejected. Offers over is similar to offers in excess of (OIEO) but treat it no differently to a guide price. If the house has been on the market for a while the seller may consider your offer, especially if you are proceedable.
Beside above, should you offer 10 less than asking price? However, there are exceptions, so as long as you are not absolutely in love with the property and can afford to let it go, it's usually worth it to try for the lowest justifiable offer you can make, even 10 or 20% under asking. The worst thing that can happen is the seller will say no.
Regarding this, why do estate agents say offers in excess of?
A property marketed with a price which includes “Offers in Excess of” (OIEO) is less ambiguous however and essentially means what it says on the tin, i.e. the seller would prefer offers over the specified amount and is unlikely to accept anything lower.
What does OIRO really mean?
Offers In The Region Of
Related Question Answers
Should you offer asking price?
There are other reasons for going in with an offer lower than the seller's asking price. Remember that the asking price is not set in stone. If you feel as though the property is worth less than what the seller is asking, go in lower, but be fair. Offering half isn't likely to go down well!Should I offer above asking price?
While every listing and situation is different, paying above asking price is very common. So buyers should be ready to consider it if they're making an offer. He says offers typically need to exceed at least 1 to 3 percent over list price when there are multiple competing buyers.What does OIEO mean when selling a house?
Offers In Excess OfHow much can you negotiate a lower house price?
How Buyers Can Negotiate House Price- When you buy a home, the seller you're buying from will probably expect you to negotiate the price.
- Work With An Agent Or REALTOR®
- Get Your Finances In Order First.
- Know Your Market.
- Get Personal.
- Be Sure To Get An Inspection.
- Always Communicate Through Your Agent.
- Ask For Closing Costs.
How much should you offer on a house?
If the home is truly asking for more than what it is worth, then start looking at the price you consider acceptable. While 5% to 10% is often deemed a reasonable discount, some people have offered up to 25% less and seen their offer accepted.Can you offer more than asking price house?
Add An Escalation Clause To Your OfferAn escalation clause means that your offer will outbid other offers up to a maximum price. This means that you make an offer saying you will pay X price for a home, but if a higher offer comes in, you will increase your offer to Y price.
How much deposit do I need?
Most lenders will require a minimum deposit for a home loan of at least 20% of the house price. So if buying a house worth $600,000 you'll need to save a deposit of at least $120,000.Can you offer below the guide price?
It is certainly possible to offer lower than the guide price. For example, if similar properties in the area take too long to be purchased, or if they are selling below the guide price, the buyer will automatically deduce that the offer can sensibly be lower than the price the vendor is selling it for.What does offers in excess of actually mean?
An “offer in excess of” basically means that they would prefer the buyer to make an offer above the specified amount. This is usually laid out as a firm message that the seller will not accept anything lower. In some cases, it could be due to the seller has a clear idea of how much they want to sell the property for.How making an offer on a house works?
The process of making an offer is actually very easy. All you need to do is contact the real estate agent, and tell them what you're willing to pay. The agent will liaise with the seller, and get back to you. You can do this via a phone call, put it in writing in an email, or even in person if you would like.What is a cheeky offer on a house?
As we mentioned earlier, an estate agent generally overvalues a house by 5-10%, meaning an offer of 90% of the asking price is probably in line with the true value of the house. If you want our advice then we say if you're happy to pay 90% of the asking price, put in a cheeky offer of 85% of the asking price.How long does it take to find and buy a house?
If you're wondering how long it takes to buy a house, the answer is it depends. On average, a homebuyer can spend a few days to go through the initial pre-approval process, anywhere from a few weeks to a few months shopping for the right home, and 30 to 45 days to close the deal.Can I offer 20k less on a house?
It is all a negotiation. You can offer whatever price you want. Whether or not they accept that offer depends on the motivations of the seller. Offer less then 20k less and try to negotiate to that number.What is considered a lowball offer?
A lowball offer refers to an offer that is far less than the seller's asking price or is deliberately too low, as a means of starting negotiations. To lowball also means to throw out a purposely lower than reasonable number to see how the seller will react.Is 90 of asking price a good offer?
If it's low—say, less than 21 days—you'll need a strong offer. If it's been on the market for more than 90 days, though, then it's okay to present a low offer. FYI, 90 percent of the asking price would be considered low, McGill says.Can I offer 50 000 less on a house?
Probably not a good idea to go in with a lowball offer $50,000 below asking price. A whole year on the market, with price reductions? Go ahead and roll the dice. The longer a house has been on the market, the less of an upper hand the seller has in negotiation."How much can you knock off a house asking price?
As a rule of thumb, expect to negotiate down about 10 per cent of the asking price, but be careful not to insult the seller by pointing out the flaws in their property as the reason why they should come down in price.Can a seller refuse a full price offer?
Even when buyers submit an offer at the sellers' asking price and with no contingencies, there's no guarantee they'll get the house. Home sellers are free to reject or counter even a contingency-free, full-price offers, and aren't bound to any terms until they sign a written real estate purchase agreement.Can real estate agents lie about offers?
But for agents in NSW, this is completely untrue. Legally, agents in NSW are allowed to disclose current offers to any other potential buyers. Agents are required to inform the seller of all offers made to purchase the property, but there is no law to prohibit the disclosure of offers to potential buyers.Can I offer 15 below asking price?
For example, if you offer 15 percent less than the asking price, the seller typically will counteroffer and ask for more. If he counteroffers, you're under no legal obligation to accept the new price just because you made the first offer. A counteroffer lets you out of your initial purchase offer.Can estate agents lie about offers?
Estate agents are unlikely to lie about offers, because the risk of a buyer withdrawing from a sale is not worth the small amount of money they will gain if you increase your offer. It is true that many estate agents earn commission on the final sale price of a house.What means under offer?
an offer's been acceptedCan I put in an offer on two houses?
No laws or rules prohibit your buyer from making offers on more than one property at a time. Similarly, the Code does not bar you from representing a buyer making simultaneous offers on multiple properties.What sold STC means?
sold subject to contractWhat does offers in the region of really mean?
Offers In The Region Of (OIRO) Meaning:This gives the buyer a rough idea of the asking price: the vendor would love something higher but are willing to accept something a little lower.
