Like many professions, jargon can be overly used to shortcut common phrases. O.I.T.R.O., O.I.E.O., V.P.O.C., S.S.T.C., O.N.O., N.O.C. Why do we do it? It’s probably just to save time, but sometimes this terminology can be unhelpful and confusing to the first time buyer. That’s all of us at Duncan Yeardley use plain speaking whenever we can. We’re here to help make the home buying process as pain free as possible.
By the way, O.I.E.O. simply stands for ‘Offers In Excess Of‘. It’s that simple. It’s an indicator to buyers that the seller is unlikely to entertain offers below the quoted price. In fact, offers are actively invited in excess of that quoted guide price.
This doesn’t mean you can’t make an offer below the figure, but don’t be surprised if your offer is refused.
If you are looking to buy or sell a property in Bracknell, contact us for a chat. We’re here to answer your questions and help make the house buying / selling process as simple and jargon free as possible.