Sold STC Estate Agent Query

scottishgirl87

Apologies for another thread from me. I've only in the last week or so been seriously looking at buying a house/flat. I've got 2 identical properties on the same street saved on RightMove, on with different estate agents.

Anyway, today 1 of them has changed to "Sold STC". If I called up the estate agents, would they be willing to tell me how much it is under offer for? Reason being as I'd love to know so when I view the one still available I would have a better idea of what to offer, should I want to.

Not sure if EA would be able to tell me or if it'd really be too cheeky to ask.

Horizon81

There's no way they'll reveal the exact price, although if you explain your position you might be able to get an idea to the nearest 10k. Depends what the agent's like but you'll get nothing specific off them.

googler

Are you buying in Scotland?

hazyjo

I've phoned (in England) and asked the agreed price on a couple of different properties with different agents. I've been told the exact price. Some will tell, some won't. No harm in asking. No idea about in Scotland though (if you are there).

Jx

scottishgirl87

googler wrote: »

Are you buying in Scotland?

Yes, buying in Scotland.

MissMotivation

As a rule we are not supposed to divulge the selling prices until the sale has completed, however I do give guidance, depending on the reason for asking.

If you were asking because you were thinking of offering on the property then no I would not tell you the exact price because it gives you an unfair advantage over the other party.

scottishgirl87

MissMotivation wrote: »

As a rule we are not supposed to divulge the selling prices until the sale has completed, however I do give guidance, depending on the reason for asking.

If you were asking because you were thinking of offering on the property then no I would not tell you the exact price because it gives you an unfair advantage over the other party.

Thanks, no I'm asking as there is an identical property up for sale in the same street but there was a £10,000 difference in their offers over. One was up for Offers Over £89,000 and the other £99,000 and the one with Offers Over 89,000 has sold so I'm interested to know for how much for the basis of a possible offer on the other one.

Thanks everyone!

sirmosh

scottishgirl87 wrote: »

Thanks, no I'm asking as there is an identical property up for sale in the same street but there was a £10,000 difference in their offers over. One was up for Offers Over £89,000 and the other £99,000 and the one with Offers Over 89,000 has sold so I'm interested to know for how much for the basis of a possible offer on the other one.

Thanks everyone!

It might not actually help at all since the other vendor might have a completely different value in mind or may be much easier/more difficult to negotiate with.

googler

scottishgirl87 wrote: »

Anyway, today 1 of them has changed to "Sold STC". If I called up the estate agents, would they be willing to tell me how much it is under offer for?

Unlikely. Very.

They might tell you how much was agreed after the missives are concluded, but even that would be rare. Once it's completed, and the new owners have moved in, better chance then, but depends on the agents.

Ignore the Offers Over prices, and find out what the Home Report valuations are for each. Unless you're buying for cash, the HR will be provided to your lender as your mortgage valuation, and they won't lend over this value. So that's essentially your limit unless you have a larger-than-required deposit in hand.

The offer on the STC one is likely somewhere between the Offers Over price and the HR valuation, however much will depend on how long each property has been on the market. If a while, it's perfectly possible that they've accepted an offer below the offers over price.....

scottishgirl87

googler wrote: »

Unlikely. Very.

They might tell you how much was agreed after the missives are concluded, but even that would be rare. Once it's completed, and the new owners have moved in, better chance then, but depends on the agents.

Ignore the Offers Over prices, and find out what the Home Report valuations are for each. Unless you're buying for cash, the HR will be provided to your lender as your mortgage valuation, and they won't lend over this value. So that's essentially your limit unless you have a larger-than-required deposit in hand.

The offer on the STC one is likely somewhere between the Offers Over price and the HR valuation, however much will depend on how long each property has been on the market. If a while, it's perfectly possible that they've accepted an offer below the offers over price.....

See, I have a copy of the Home Report for the Offers Over £99k property. It says for insurance purposes the property is valued at £90k but has a market value of £115k. So what would a mortgage lender take as the valuation? Sorry, I'm really new to this so I really have no clue :embarasse

JimmyTheWig

scottishgirl87 wrote: »

See, I have a copy of the Home Report for the Offers Over £99k property. It says for insurance purposes the property is valued at £90k but has a market value of £115k. So what would a mortgage lender take as the valuation? Sorry, I'm really new to this so I really have no clue :embarasse

They'd take the market value.
The insurance figure is (hopefully) never going to be needed. That's what it would cost to rebuild the property from scratch if, for example, the whole thing burned down. So it doesn't include the value of the land.