offers over 120...

sazzy6

Does that really mean that I have to offer more? I know it sounds like a silly question but I have never heard or seen one of these before.

mystic_trev

In todays market it probably means offers in the region of £100,000

sazzy6

I think they would tell me to sod off! LOL However I could start at 108?

Zelie

sazzy6 wrote: »

I think they would tell me to sod off! LOL However I could start at 108?

Why does that matter?

You never know they might be desperate.

Start at 100 and if they do tell you to sod off then you can think about increasing your offer. OR you can start at 108 and be accepted by vendors who would have accepted less.

ginvzt

We are looking at the house OIEO £200k. (recently reduced by nearly £30k) We would probably start at £185K.

That is, we viewed it, liked it. But we are not going to rush. Agent called yesterday for feedback. We said we like it, but before we consider putting an offer, we want to get a copy of HIP. After HIP we would be going to view it second time, as we missed some things the first time and we would need to assess the house with clear head. When we asked for HIP the EA started talking that it is big an bulky and we are welcome to come to the office to view it. My OH just said - we are not going to put an offer without seeing HIP and you can send us electronic copy. No electronic copy as yet, we are going to give another day or so to see if they are posting it to us.

We are ready to move, sold our house (money in the bank, mortgage agreement with the bank). So, if EA wants the sale, they have to give us HIP. We like the house, but we promised ourselves not to rush anywhere - if the house goes to someone else, there are plenty others in the street!!!!

brit1234

£100,000 sounds good. Offers over £120,000 sounds a bit cheeky, its not a sellers market anymore and far from it. Buyers are clearly in the driving seat especially as there are over 15 properties for sale against one buyer.

lincroft1710

How much do you want to pay for the property and can you comfortably afford this fgure? Factor into your calculation increasing gas/oil/elec prices, poss mortgage rate interest increase, cost of moving etc. If this figure is £108k then make a lower offer so you can make higher offer when first offer is rejected. If vendor desperate to sell and hasn't had any offers you may be lucky. Many years ago the then OH wanted to move to bigger house, I wasn't keen so made what I thought was unacceptable offer (around £63k), they said increase offer by £500 and it's yours!!

Glamazon

ginvzt
The HIP belongs to the seller so you wouldn't be allowed a copy anyway (at least that's what I was told) you can certainly view at EA office. I only got an electronic copy once my offer had been accepted.

sazzy6
Start low you can always work your way up - and don't rush in, take your time that way you won't come across as desperate and the EA will be contacting you to accept your previous offer. Houses aren't shifting so the ball is in your court - good luck :j

scooterpig

If so, yes. Offers over is very common in Scotland - you can expect to pay anything between 7% and 30% over depending on where you're buying. Otherwise the property would be listed at 'fixed price' - which is exactly what it says on the tin.

sazzy6

Thanks for all your advice. I can afford anything up to 125 so it is within budget but I could do mroe with it with the extra.

And no it is not in scotland

ginvzt

Glamazon wrote: »

ginvzt
The HIP belongs to the seller so you wouldn't be allowed a copy anyway (at least that's what I was told) you can certainly view at EA office. I only got an electronic copy once my offer had been accepted.

You are wrong - the EA (or other responsible person) has to provide a copy to the potential buyer. It is in the regulations. HIPs were introduced to help buyer to make a decision, so I don't see why should I put an offer in before I saw the pack. Maybe it highlights something I am not willing to put up with?

Quote from HIP website:

You are under a duty to provide a copy of the Pack (or any part of it) to a potential buyer who asks for it. The only exceptions to this rule are where it is believed that:

• The person making the request could not afford the property in question
• The person making the request is not really interested in buying the property
• The potential buyer is not a person to whom the seller would wish to sell the property.

However, this does not allow the responsible person to unlawfully discriminate against anyone. A reasonable charge to cover copying and postage costs can be made for providing copies.