Understanding Offer Types in Property Listings (Sales)

When you list a property for sale, your offer type tells buyers how to interpret the price. Is it a firm asking price? A minimum you expect to beat? Or a guide figure open to negotiation?

Picking the right option helps you set expectations, attract the right buyers, and cut through time-wasting back-and-forth.

This guide explains the main offer types you’ll see on virify, how they shape negotiations, and how to choose one that fits your situation.

Key takeaways

• Offer type controls how buyers read your price (firm, flexible, or "offers above")
• In England & Wales, an offer isn't legally binding until exchange of contracts
• In Scotland, offers are made through a solicitor and become binding much earlier
• Clear pricing and clear info usually leads to better-quality offers

What does “offer type” mean?

Your offer type is the way your price is presented on the listing. It signals whether:

• you’re expecting offers above a minimum figure
• you want a clear target price
• you’re open to negotiation around a guide price

It can also influence buyer behaviour, including how confident they feel making an offer.

Making offers: UK differences to know

England & Wales

Offers are usually made through the estate agent (if you have one) or directly to the seller if the sale is private. Even if you accept an offer, it’s typically “subject to contract” and not legally binding until exchange. For more information visit GOV.UK (Selling a home)

Scotland

Buyers submit a formal offer through their solicitor. The sale becomes legally binding at the conclusion of missives (the point the contract is agreed). MyGov Scotland (Making an offer)

Offer types used on Virify

Offers Over

What it means: The listed figure is a minimum. Buyers are expected to offer above it.

When it works well:

• you’re in a high-demand area
• your home is likely to attract multiple interested buyers
• you’re happy to let the market push the final price

Watch-outs:

• some buyers will offer only slightly above (e.g., “£1,000 over”)
• if the figure is set too high, buyers may not view at all

Asking Price

What it means: You have a clear target price. Buyers can still negotiate, but you’re signalling you want offers at or close to the asking price.

When it works well:

• you want clarity and fewer “testing the water” offers
• you prefer a straightforward negotiation

Watch-outs:

• if priced too high, you may get low offers or slower interest
• if priced too low, you may still end up in a bidding situation (which isn’t always bad)

Offers in the Region Of (OIRO)

What it means: The price is a guide figure. You’re open to negotiation, but you expect offers to be reasonably close.

When it works well:

• you want flexibility but still want to set expectations
• you want your property to appear more accessible and potentially attract more interest compared to a strict ‘offers over’ tag

Watch-outs:

• some buyers may treat OIRO as an indication to offer much lower
• you may need to manage expectations in conversations and follow-ups

How to choose the right offer type

Step 1: Be honest about your goal

Pick what matters most:

• Highest possible price
• Fastest sale
• Lowest stress / cleanest process
• Certainty (e.g., buyer readiness, chain position)

Step 2: Check your local market

Ask:

• Are similar homes selling quickly?
• Do homes tend to sell at, above, or below list price locally?

You can also learn a lot by watching nearby listings over a few weeks.

Step 3: Decide the signal you want to send

• Want competition? → Offers Over
• Want clarity? → Asking Price
• Want flexibility? → OIRO

Step 4: Reduce negotiation friction with clarity

Whichever you choose, help buyers understand the deal by being clear on:

• what’s included (appliances, fittings)
• parking situation
• lease length and costs (if leasehold)
• condition and any known issues (better upfront than later)

Tips to handle offers smoothly

• Respond promptly (even if it’s a “thanks, we’ll come back to you”)
• Ask simple qualifying questions:
  • “Are you chain-free?”
  • “Do you have a mortgage in principle?”
  • “What’s your ideal timeline?”
• Keep notes on each offer (price, buyer readiness and conditions)
• Remember: the “best” offer is often the one most likely to complete, not just the highest number