Offers Offer Query

jucee84

First time buyers here, so apologies if this is a stupid question!!

At the weekend we noticed a property, newly on the market last week, that is advertised as offers over £x.

We called the agent this morning to arrange a viewing, however the receptionist told us that an offer had been accepted on the property!

Can we still make an offer on the property? I'd have thought it would have appeared on the market as under offer first, thus leaving us open to make an offer ourselves?

Thanks in advance!

Edit - In Scotland I forgot to add!

myhouse_2

Technically you can, but if the offer has been accepted then the EA and solicitor are unlikely to enourage you. Under the legal rules, the solicitor working for the seller would not be able to handle your new offer - the vendor would need to get a new solicitor (and probably pay the old one too).

thelem

The "Offers over" advert is unlikely to be related to the fact that an offer has been accepted - it's just one way people choose to advertise their properties.

Even if you decide not to compete with the existing offer it's worth asking the EA to contact you in case that offer falls through (although do ask why it fell through).

googler

You'll need a solicitor to make an offer for you, since you're in Scotland, and the general modus operandi is that your solicitor won't make an offer on a property that's already Under Offer, unless he/she is notified that the first offer has fallen through. The selling agent or solicitor will be unable to accept a second offer with the first one still in place, as that goes against Law Society guidelines.

You're unlikely to get a viewing on the property, since an offer has already been accepted, so would you want to make an offer on a property you haven't seen.....?

By all means get your solicitor to ask to be notified if the property comes back to market.

jucee84

yeah I left my details with them to get in touch if it falls through.

The property needs renovated as was an elderly lady that used to live there so basically I'd be buying a blank canvass! Heating system was replaced a year ago & cream carpet fitted throughout so would just be a case of fitting a new kitchen & bathroom and giving all the rooms a lick of paint!

Bit of a bargain whoever gets it as it's around 15-20k under valuation of similar homes in the neighbourhood. Just a pity we never noticed it sooner! It had only been on the market since wed/thurs!!!!