Relocating

samw_3

Sorry if there are loads of threads on here about this but I didn't find them inteh first few pages so here I go.
I am relocating from England to Scotland.

1. the relocation company will buy my house from me - does anyone have any experience of this? Does it go through quickly, should I expect to get a lower valuation? I've had estate agents round so I have a price range.

2. My current mortgage which I have still has 1 1/2 years left for the redemption penalty, will not move to Scotland as they don't have any branches there so legally can not sell me a mortgage. Does anyone have advice on this. The branch manager has suggested I write to the head office. I will get my redemption statement tomorrow hopefully.

3. I am buying in Scotland where it seems all scary! If a property is advertised as fixed price, I believe I still have to offer over the asking price? If so by how much?

4. If I want an 'offers over' property can I offer directly to the sellers and they can decide or do I have to go through the rigmarole of waiting for a closing date to find out if I have got it? I am hopefully going to be in a very good position - with no proprty to sell (as long as the answer to Q1 is very quickly!!)

Sorry for the loads of Q's but I am a bit lost here!

john0612

Hi there, can't help you with Q1&2, but fixed price is what you see, what you pay, you don't pay any more.
Offers over is basically a bidding game, but you can put a verbal to the vendor. Some people don't like to commit to a verbal because the next person through the door could offer more money. If it goes to a closing date, it means a few people have will be bidding, better for the seller bad for you, and it's highest bidder wins.
I think the going rate is 10-15% over the offers over price.

Hope that helps.

dougk_2

Have you considered not selling the house and renting it out and then purchasing a new house in scotland - is this a possibility? You then have a fallback if you don't like scotland and maybe a way around the redemption fee too.

samw_3

I'm not sure how it would work renting out this house and buying another.
I have about 50% equity in this house, to increase by much that would mean I would be renting it out at a loss. iF I don't take any equity to Scotland I can't really afford to buy.