Published 28 April 2023 | By FJP Investment Editorial Team

Last updated: August 2026

If you have spent any time looking at property listings, you will probably have come across the phrase “offers in excess of”, often shortened to OIEO.

A property might, for example, be advertised as Offers in Excess of £300,000.

In simple terms, this means the seller is signalling that they would like to receive offers above £300,000. However, the advertised figure is not a legally binding minimum, and there may be circumstances where a seller accepts the stated figure or even an offer below it.

It is therefore better to think of “offers in excess of” as a pricing and marketing strategy rather than a rule dictating what a buyer must pay.

Understanding what the seller and estate agent are trying to achieve can help you decide whether to offer above the advertised price, match it, or potentially make an offer below it.

What does offers in excess of mean?

OIEO stands for Offers in Excess Of.

If an estate agent advertises a property as OIEO £300,000, the seller is effectively indicating that they are hoping to receive offers above £300,000.

This differs slightly from a conventional asking price because the figure is intended to communicate the lower end of the seller’s expectations rather than necessarily the exact amount they expect to receive.

It does not, however, turn £300,000 into a legally enforceable minimum price.

In England and Wales, even when a seller accepts an offer, the transaction is generally not legally binding until contracts are exchanged. Until that point, both parties retain considerable flexibility.

More information on the buying process can be found on the UK Government’s guidance on making an offer on a property.

Why are some properties advertised as offers in excess of?

There are several reasons why a seller or estate agent may choose to market a property using OIEO.

In some cases, the seller genuinely has a minimum figure in mind. They may need to achieve a certain amount to fund their onward purchase, repay borrowing, or simply consider the property worth more than the advertised figure.

In other cases, OIEO forms part of the marketing strategy.

An estate agent may advertise a property at an attractive starting figure in order to generate more enquiries, viewings and potential buyers. If several buyers become interested at the same time, that competition may result in offers significantly above the advertised amount.

This can be particularly effective when a property is new to the market or is situated in an area where demand is strong.

There may also be situations where valuing the property is difficult. A house may have been extensively renovated, be unusually large for its street, include additional land, or simply have few directly comparable properties nearby.

In those circumstances, marketing at offers in excess of a particular figure can allow the market itself to help determine what buyers are willing to pay.

Can you offer below offers in excess of?

Yes, you can.

There is nothing preventing a buyer from making an offer below the OIEO price.

The more important question is whether the seller is likely to accept it.

Imagine a property advertised at OIEO £400,000 that has been on the market for only five days. It has attracted numerous viewings and several interested buyers. An offer of £380,000 may have little chance of succeeding.

Now consider the same property after four months on the market. A previous sale has fallen through, interest has slowed and the owner wants to move quickly.

An offer below £400,000 could receive a very different response.

The wording on the advert has not changed. The seller’s circumstances have.

This is why buyers should look beyond the term “offers in excess of” and consider the wider picture.

How much should you offer on an OIEO property?

There is no standard percentage that buyers should automatically add to an OIEO price.

You will sometimes hear suggestions that a buyer should offer 5% or 10% above the advertised figure. In reality, an arbitrary percentage makes little sense.

The starting point should be determining what you believe the property itself is actually worth.

Look at comparable homes that have recently sold in the area and consider factors such as:

• Property size and number of bedrooms
• Overall condition
• Exact location and street
• Garden or outside space
• Parking or garage facilities
• Freehold or leasehold tenure
• Extensions and improvements
• Local buyer demand

Small differences can sometimes have a surprisingly significant effect on property values. Parking, for example, can command a substantial premium in areas where spaces are scarce. We have looked at this separately in our article on how much value a parking space can add to a property.

If comparable homes are selling around £300,000 and a house is marketed at OIEO £295,000, an offer moderately above the advertised figure may make perfect sense.

If comparable homes are selling around £300,000 but the property is marketed at OIEO £330,000, the wording in the advertisement should not persuade you to pay more than you believe the property is worth.

An OIEO figure is, ultimately, a marketing price rather than an independent valuation.

Find out how much interest there actually is

One of the simplest things a prospective buyer can do is speak to the estate agent.

The agent may not disclose the precise details of other buyers’ offers, but there are still several useful questions you can ask:

• How long has the property been on the market?
• Have any offers already been made?
• Has a previous sale fallen through?
• Is the seller involved in a property chain?
• Does the seller have a particular timescale?
• Are there other viewings or second viewings booked?
• Is the seller actively looking for another property?

The answers can tell you considerably more than the OIEO label itself.

A seller with three competing buyers is in a very different negotiating position from someone who has received no serious offers in several months.

Offers in excess of vs asking price

An asking price is generally the advertised amount at which the seller hopes to sell the property and around which negotiations can take place.

Offers in excess of sends a slightly stronger signal. It indicates that the seller is hoping to achieve more than the stated figure.

That does not guarantee they will achieve it, and neither expression establishes the property’s objective market value.

Offers in excess of vs guide price

A guide price generally provides an indication of the level around which the seller expects interest.

Depending on the circumstances, buyers may reasonably make offers either above or below it.

OIEO sends a more explicit signal that the seller wants the eventual offer to exceed the advertised amount.

It is therefore worth paying attention to the exact wording used on a property listing rather than assuming that asking price, guide price and offers in excess of all mean exactly the same thing.

What is the difference between OIEO and OIRO?

Another abbreviation frequently seen on property advertisements is OIRO.

OIRO means Offers in the Region Of.

This generally suggests greater flexibility than OIEO.

Property term	What it usually means
OIEO – Offers in Excess Of	The seller is hoping to receive offers above the stated figure.
OIRO – Offers in the Region Of	The seller is inviting negotiation around the stated figure.
Guide Price	An indicative price around which offers may be considered.
Asking Price	The advertised price around which negotiations generally begin.
Fixed Price	The seller is signalling that they are seeking the stated amount.

None of these terms changes the fundamental reality that a property is ultimately worth what a willing buyer and willing seller agree between themselves.

Should you offer the OIEO price first?

Possibly.

If a property is marketed at OIEO £350,000 and you genuinely believe £350,000 represents fair value, there is nothing wrong with offering exactly that amount.

The seller may reject the offer, make a counter-proposal or accept it.

The important thing is to establish your own view of value before becoming caught up in negotiations.

Property purchases can quickly become emotional. Once somebody has mentally pictured themselves living in a particular house, increasing an offer by another £5,000 can seem relatively insignificant.

Then another £5,000 follows.

Before long, the buyer may be considerably above the amount they originally believed the property to be worth.

Setting a realistic maximum before entering serious negotiations can therefore be useful.

Remember that your mortgage lender has an opinion too

If you are buying with a mortgage, the amount you are personally prepared to pay is only part of the equation.

Your lender will normally conduct a valuation to determine whether the property provides adequate security for the mortgage.

If you agree to purchase a property for £425,000 but the lender values it at £400,000, the mortgage may be calculated using the lower valuation.

This is sometimes referred to as a down valuation and may leave the buyer needing to contribute additional cash, renegotiate the purchase price or reconsider the transaction.

It is another good reason not to assume that an estate agent’s OIEO price is automatically equivalent to the property’s market value.

What happens if a survey finds problems?

Even after an offer has been accepted, a property survey may identify issues that were not obvious during the original viewing.

These could include roofing problems, damp, structural movement, electrical issues or evidence of subsidence.

We have previously looked at some of the issues commonly identified during a property survey.

If a significant problem comes to light, buyers may reconsider the price they are willing to pay or obtain specialist quotations before deciding how to proceed.

Structural issues such as subsidence deserve particular attention, and sellers also need to understand their obligations when answering questions during the conveyancing process. You can read more in our guide to subsidence and selling a property.

Is selling with offers in excess of a good idea?

For sellers, OIEO can work well in the right circumstances.

Setting an attractive starting figure can generate interest and, when demand is strong, potentially encourage competition between several buyers.

However, there is no guarantee that using OIEO will result in a bidding war.

If the starting figure is unrealistic or buyers believe the property is overpriced, the listing may struggle to generate interest regardless of the terminology used.

Pricing strategy therefore needs to reflect the actual local market, recent comparable sales and the characteristics of the individual property.

Does offers in excess of work differently in Scotland?

Buyers should be aware that the property purchasing system in Scotland differs significantly from England and Wales.

“Offers over” pricing is particularly common in Scotland, where properties are also normally marketed alongside a Home Report containing information about the condition and valuation of the property.

In competitive markets, formal offers may be submitted through solicitors and the seller may set a closing date where multiple parties are interested.

Buyers purchasing in Scotland should therefore obtain advice relevant to the Scottish system rather than assuming the English and Welsh process applies.

Frequently asked questions about offers in excess of

What does offers in excess of mean?

Offers in excess of, or OIEO, means the seller is signalling that they would like to receive offers above the advertised property price. It is a pricing strategy rather than a legally binding minimum.

Can I offer less than offers in excess of?

Yes. A buyer can submit an offer below the advertised OIEO figure. Whether the seller is willing to consider it will depend on demand, how long the property has been available and the seller’s individual circumstances.

Does OIEO mean the property is worth that amount?

No. The OIEO figure is an advertised marketing price. It is not an independent valuation and does not necessarily represent the amount a mortgage lender or surveyor will consider the property to be worth.

How much above offers in excess of should I offer?

There is no fixed percentage. Your offer should take account of comparable property sales, condition, local demand, the level of competition and your own budget rather than automatically adding a particular percentage.

Is OIEO the same as a guide price?

Not quite. A guide price usually indicates an approximate level around which negotiations may take place. OIEO provides a stronger indication that the seller hopes to receive more than the stated figure.

Can the seller accept my offer and then change their mind?

In England and Wales, an accepted offer is generally not legally binding until contracts are exchanged. It is therefore possible for either party to withdraw before exchange, although doing so can result in wasted time and costs.

Final thoughts

Seeing “offers in excess of” on a property listing can make buyers feel as though they must immediately start bidding above the advertised amount.

That is not necessarily the case.

OIEO tells you what the seller hopes to achieve. It does not tell you what the property is worth, what another buyer will offer or what the seller will ultimately accept.

The sensible approach is to research comparable properties, understand the local market, establish how much competition exists and decide what the property is worth to you before entering negotiations.

Ultimately, the right offer is not determined by a particular percentage above or below the OIEO figure.

It is the amount that makes sense for the property, the market and your own circumstances.