Offers over?

malima

Hi there,
Wonder if someone can help me out a please,
We are looking at a house, offers over 195k, the house looks good, but inside looks a bit dated, so i wonder if i can over UNDER 195k, and how much under can i go?
Tia
malima

tek-monkey

You can offer anything you like, but if they say over I suspect they want over. Doesn't mean you can't haggle, just means they may not want to.

googler

You can offer them £1 if you want to. Just don't expect them to take you seriously if you do.

I take it from your location that you're buying in Scotland. Have you hired a Scottish solicitor to submit the offer for you? They should advise you on whether or not you#re likely to secure the property for under the asking price, they should also establish from the selling agent whether or not there are any notes of interest, and whether or not there's a closing date for offers.

malima

googler wrote: »

You can offer them £1 if you want to. Just don't expect them to take you seriously if you do.

I take it from your location that you're buying in Scotland. Have you hired a Scottish solicitor to submit the offer for you? They should advise you on whether or not you#re likely to secure the property for under the asking price, they should also establish from the selling agent whether or not there are any notes of interest, and whether or not there's a closing date for offers.

Hi,
It has been on the market for over 6 months now, thats why i was thinking i MIGHT get away with asking for £10k under the asking price. But i don't know if i was allowed to.
Thanks anyways.

googler

malima wrote: »

Hi,
It has been on the market for over 6 months now, thats why i was thinking i MIGHT get away with asking for £10k under the asking price. But i don't know if i was allowed to.
Thanks anyways.

There's no law or statute that prevents or disallows you from offering under the asking price. It's just a question of deciding how low you want to go, how low the seller will accept, and whether or not you'll be taken seriously if you offer 'too low' in their eyes.....

As I say; your solicitor should be your guide in this process. You can't make an offer on a property in Scotland without making it in writing, and you need a solicitor to draft it in 'Scottish legal form'. Have you hired a solicitor to act for you? Is this solicitor reasonably local to the property you want to buy?

If the sellers can afford to sell for £10k below the offers over price, you may be in with a chance, but a lot will depend on their circumstances.

Hope this helps.

jenniferfluff29

Hi Malima

I sold and bought in Scotland this year.

1st check if there is a home report for it and when it was done. If it is 6 months old and they have not decreased their O/O price since it was first advertised, then you should be able to negotiate.

I put in offers on around 6 houses by directly giving my offers to the EA's. All of them were happy to accept verbal offers initially and you can negotiate directly with them until you both come to an acceptable price. However, one you have verbally agreed on price you need your solicitor to be ready to act with the offer in writing with your offer price and entry date.

It is the norm in Scotland that all offers need to come via your solicitor but I bought my current house and my last house in 1994 by negotiating directly with the EA. Also, the various people who made offers on the house I sold at the end of last year did not make a formal offer throught their solicitor until a price had been agreed.

You can put in a note of interest via your solicitor and then if the house goes to a closing date, then your solicitor will receive notification of this on your behalf. If there is a number of people interested in the house and people start making offers, then the EA may set a closing date and you will then need your solicitor to submit your best offer. You then have to hope that the offer is what the buyer is looking for.

If you really want the house, put in a necky offer. I would not want to go to a sealed bid as you have no control on the negotiations. I got my house for £10K below the home report valuation and the house had only come on the market. The old guy was happy to get rid of the house and I think he got a good deal on his retirement home. Some people may accept less, others will still want the valuation price even though the home report is 6 months old.

Good luck.

Fluff