Buying in Scotland - what to offer!?

moneyshoe

csh wrote: »

It really not the done thing to offer less than really tho!
Most of the people on this forum who say to offer less are
English buyers and don't really do OO or regard it as greedy marketing tactics.

FWIW we offered on a house that was fixed price and our offer was a fair bit lower, we negotiated with the vendor directly rather than using solicitors as we then had a bit of a relationship with the sellers. My solicitor was aware we were making the offer and when it wa accepted she stepped in.
Also our first was rejected, she put forward a higher price then we met somewhere in the middle (all within 2 hours, no waiting) so the fact that they have told you £105k is positive.
Are the vendors doing their own viewings or through an agent?

Eta: my house was on OIRO and no viewings for 4 months, changed to offers over a lower price and had loads of viewings and an offer which was £2.5k over the OO price and was the EAs original sale estimate

I'm not really sure this is the case anymore. We bought a flat in Edinburgh six years ago when everything went for 20% above the offers over price at least (sometimes 30-40%). We've just started looking to buy a house somewhere in the Lothians and are finding the market to be very different. Very few houses are even on offers over and one that was changed from offers over to offers around in the time it took as to view it. An EA friend of my mother in laws told her that houses in Edinburgh are going for around 10% less than the offers over price - I have no idea if this is true but I certainly got the feeling that there are a lot of desperate vendors out there.

I assume that the vendors are hoping that this property will attract a few bidders and so will achieve close to the HR valuation which is why they have gone for offers over. We sold `18 months ago at fixed price and got an offer and three notes of interest on the first viewing - I really regret not going for offers over now.

I was also surprised by the comment that chains in Scotland are not so common. Several of the vendors we saw last weekend had properties that they had offered on and a couple had had offers from purchasers who weren't yet in a position to buy so I think being a FTB does have an advantage. Much more so than it did six years ago.

I think you just have to sit tight and see what happens now. I would have been surprised if they had accepted such a low offer the first week they were on the market but they may come back to you after a while if the place still doesn't sell.

myhouse_2

csh wrote: »

From the solicitors point of view, it's not the done thing that's why she was uncomfortable doing it.

Frankly, if a solicitor is uncomfortable putting in offers of any type, they probably should be doing a different job. Particularly in today's market where putting in low offers is the done thing.

betti911

Reading this thread with interest.

To my knowledge your solicitor will advise you re the buying process but will not be able to advise you as to what price to offer. That is up to you.

goodmorningsunshine

You have to go view again, its amazing what you miss/remember from 1st time round.

EG the oven looks like it may need to be either renewed or at least a new seal, and you may remember the room/s smaller or larger than they actually are.

Your offer is a very fair one, unfortunately came rather soon after going on the market. Still, if your not fast - your last.

Keep calm, find out how soon they have to move, time may NOT be on their side.

Have a good feeling about this one - I think you will hear some good news very soon, and no, I'm not mystic meg or talking about your pregnancy - although that would be a good news bonus !!!!!

Keep us posted and Good luck !!!!

bananz

Thanks a million folks! The kitchen definitely needs replacing and there were 3 category 2 maintenance issues flagged in the home report, so it's not in perfect condition and will need some money spending on it over the next year.

We've been umming and ahhing about the pros and cons of going back to see it, but I think on balance we will, if only to ask about the above issues and make sure it really is worth going over our last offer.

In any case, i really appreciate everyone's input! Will keep you posted!

krlyr

I would go again and spend some time taking notes about what work would need to be done. If the vendors themselves do the viewings then they can see that you're serious - if you come back and say it's your final offer because you've quoted up the work that needs doing, they know that you're not likely to be bluffing.

HAMISH_MCTAVISH

If you're using a proper solicitor they should advise you of all aspects surrounding the sale, not least of which would be the most recent comparable sold prices in the local area.

They will also have access to the most recent actual sales data (within the last 6-8 weeks) through the SPC system that you don't (yet) have access to through ROS, including details of houses sold, condition, and probably photos of the interior so you can judge comparability for yourself.

Not sure what you mean by "conveyancer" though.

Are you using a solicitor that is a member of GSPC or not?

If not, then no wonder you feel they are not being helpful. If so, then I'd specifically ask for the kinds of information mentioned above so you can judge for yourself exactly where the market price is for the property and offer accordingly.

HAMISH_MCTAVISH

betti911 wrote: »

Reading this thread with interest.

To my knowledge your solicitor will advise you re the buying process but will not be able to advise you as to what price to offer. That is up to you.

A solicitor that is a member of the local SPC will have access to the fullest data possible on recent comparable transactions, and will provide that information on request, to enable their customers to make appropriate offers.

They will not advise an actual amount to offer, and will ultimately offer anything they are instructed to.

As they typically include making offers on your behalf in a fixed fee however, they will be reluctant to engage in continuous offers that are so low as to be clearly time wasting, and may choose to withdraw their services or renegotiate a fee per offer basis should that become the case.

goodmorningsunshine

bananz wrote: »

Thanks a million folks! The kitchen definitely needs replacing and there were 3 category 2 maintenance issues flagged in the home report, so it's not in perfect condition and will need some money spending on it over the next year.

The kitchen looks fine to me (apart from the oven) although all a matter of taste.

Cheap way of revamping kitchen would be to just change the worktops, or even just put up a modern colourful kitchen wallpaper - again all a matter of taste.

White units - can't go wrong - good base - just change round about as much as you want or as little as you want.

Keep us posted.

goodmorningsunshine

HAMISH_MCTAVISH wrote: »

As they typically include making offers on your behalf in a fixed fee however, they will be reluctant to engage in continuous offers that are so low as to be clearly time wasting, and may choose to withdraw their services or renegotiate a fee per offer basis should that become the case.

Never seen "Relocation, Relocation" Kirsty and Phil sometimes look very uncomfortable putting an offer way under asking price, on their buyers instructions, only to be VERY surprised, shocked and delighted the offer is accepted !!!!