Putting in an offer & scotland

mcowan77

hi

looking for some advice

thinking of putting in a offer for a house very soon

its on the market at offers over 129,000 (scotland)
on the market for 6 months no offers. home report mtv is 140,000

problem is there is a similar property on the same street, just went on the market offers over 125,00 but the home report mtv is 120,000........its identical apart from the more expensive house has a bigger garden and a kitchen extension into the garden.

why the big diff in valuation, could it be becuase the estate agents own survey company valued the house at 140,000


im struggling with what offer to put in ( we prefer the one at offers over 129,000)

any help much appreciated

thanks

hcb42

put in what you think. It will either get accepted or it wont.

Mad system, that one of the valuation in Scotland nowadays.

googler

hcb42 wrote: »

Mad system, that one of the valuation in Scotland nowadays.

Why is it a 'mad system' ???

googler

The difference in HR values is an irrelevance. Two different surveyors can have different opinions on value within the same street. With the two surveys being 6 months apart, I'm not surprised they're different.

You decide which house you prefer, you put an offer in. If the offer is accepted, all good and well. If it's declined, you negotiate and possibly revise your offer. If the seller declares a closing date (unlikely if they've had no offers in 6 months), then you put your best offer in and wait and see.

If the HR for your accepted offer is over 12 weeks old, you may find your lender calls for a refresh of the HR valuation. If this brings about a lower figure, your lender may reduce what they offer you as a mortgage. If this happens, you may need to renegotiate with the seller.

You need a solicitor to tender your offer for you. Do you have one hired?

little_miss_muppet_face

I have a house for sale at the moment in Scotland. Was valued at 128k 2 weeks ago, I am willing to accept 125k.. I dont think offering much below the valuation will get you the house. why not offer 125 and hope to get it for that.. I think in scotland most sellers are hoping for the valuation.. unless mine is still on the market in 6 months time will i accept lower than 125.

thats only my opinion though.

Piggo_2

Could be that different people did the Home Reports and saw the values of the houses differently. Just put in an offer that you're happy with, negotiations can always go on from that.