What would you offer, Propery in Scotland

LilacPixie

Well we have a few interested parties in our flat so now time has come to start to look about for what we want to move too.

We have came accross this place http://www.blackadders.co.uk/Property-Details.aspx?mode=Details&propertyID=9153 I know the area reasonably well but haven't yet viewed the place. Home report says its worth 120k and is priced at fixed 120k.

Realistically this market aound here is flat I put my home on the market at less than the valuation to get some interest and I realistically know Iwill be accepting less than its marked at.

My OH wants to offer the 120k to secure it if we like it as its in a decent area for schools, large open spaces for the kids and close to stables for riding lessons, childcare. The estate is also all private with no council housing and no shops so very little trouble.

I on the other hand want to pay as little as possible as I aim to be mortgage free in just over 10 years I hope to pay no more than 114k so 95% of the valuation but ideally 110k ish.

Anyone have any experience of buying in Scotland be able to offer some guidance

Nosht

It looks quite nice.
Offer, subject to survey, less, with a closing date.
How long has it been for sale?

N.

googler

According to Zoopla, only 7 sales in that street in last 3 years -


26th Mar 2009 68 Graham Court Terraced, 3 Beds, 1 Baths, 1 Receps £116,000
23rd Sep 2008 35 Graham Court End of terrace, 3 Beds, 1 Baths, 1 Receps £125,000
15th Aug 2008 57 Graham Court --, -- Beds, -- Baths, -- Receps £124,950
23rd Jul 2008 69 Graham Court Semi-detached, 3 Beds, 1 Baths, 1 Receps £123,000
3rd Jun 2008 39 Graham Court --, -- Beds, -- Baths, -- Receps £120,000
15th Apr 2008 52 Graham Court --, -- Beds, -- Baths, -- Receps £110,000
15th Oct 2007 69 Graham Court Semi-detached, 3 Beds, 1 Baths, 1 Receps £123,000


I'll leave you to research how these compare with your target property. Most recent sale would suggest around £115k or so is realistic.

Your solicitor will be making the offer on your behalf. What do they advise? You're paying them for advice as well as action, I'd say.

I wouldn't pitch in with £120k to 'make sure you get it' unless you know that there's competing interest - your solicitor should enquire with the selling firm (or you should) to establish if there are any 'notes of interest' on this house. If not, you should consider starting with an offer slightly below £115k, I'd suggest.

The sellers will accept, decline or defer decision. They can only defer decision if they have other interest. Your written offer will have a limit date (check with your solcitor whether that's 1 day, 3 days, whatever) and they're obliged to respond within this timescale.

If they accept, all good and well. If they decline, you can increase your offer until you find a point where the sellers accept.

LilacPixie

Thanks.

Nosht - since June, inscotland so already have acess to the homereport which includes the survey.

Google - Thanks. Its basically a street of identical houses in blocks of 4. Not spoke to solicitor yet because until we have definatly sold we are in no position to go anywhere.

googler

LilacPixie wrote: »

Its basically a street of identical houses in blocks of 4. Not spoke to solicitor yet because until we have definatly sold we are in no position to go anywhere.

You should get your solicitor to 'note interest' in the target property - if it gets to the stage where they have other interest, or declare a closing date because someone else is making an offer, you'll be informed and may get the chance to offer.

If you don't note interest, they'll just sell it to someone else without notifying you.

You may want to consider making an offer on the target property subject to you selling yours - it's unconventional, but you never know, they may accept - take your solicitor's advice on whether or not to do this

7 sales in 3 years suggests that you won't have too much competition though.......

LilacPixie

Thanks again googler. Its a bit of a funny area, no shops on the actual estate, public transport minimal to non existant. I think that puts people off TBH. People seem to stay there for years and years though. I think i'll be on phone to solicitor after lunch to get a viewing with intention of noting interest if we like it.

googler

LilacPixie wrote: »

Thanks again googler. Its a bit of a funny area, no shops on the actual estate, public transport minimal to non existant. I think that puts people off TBH. People seem to stay there for years and years though. I think i'll be on phone to solicitor after lunch to get a viewing with intention of noting interest if we like it.

There's nothing to stop you noting interest before you go viewing. You can always withdraw the note of interest later if you don't like it.

Kara_P

Hey my partner and I just bought our first house in Dundee this month and you are completely right the market is flat at the moment. We were looking at houses around £110,000 and so loads! This price is actually quite good for the house however I think the house is in Fintry which can be a bit of a bad area in Dundee. BUT as with anywhere there are better bits and worse bits so maybe check with the locals as to where this house falls.

My advice is note interest for sure then ask yourself what you really want... if you love this house and don't want to loose it then I think if there isn't much other interest then £120,000 would get you it. Otherwise go in at around £115,000 and see if you can get anything knocked off.

missdee85

I use to live near there same area - orchard court. Good luck in getting the house it is a really lovely area and i am sure you will be very happy there, i have to say the most relaxing thing waking up in the morning was looking out the huge window and seeing all the tree's and hearing nothing - absolute bliss!!!

Good luck
xx