Advice please FTB in Scotland

HAMISH_MCTAVISH

Violetta wrote: »

I have really misunderstood I thought if an offer was rejected that was it, you lost your chance.Think I was getting all confused with all the info I found especially the sealed bid's & closing dates,

OK, so it's not common for most houses to go to sealed bids with a closing date these days, unless it's unusually desirable/cheap/in a good area, etc.

But just to clarify what that is all about, it works as follows.

For any house that you are interested in your solicitor can put in what is called a "note of interest" with the vendor's solicitor.

If the vendor receives multiple notes of interest, then upon receipt of an offer they will notify all the other interested parties of a closing date, when offers must be received by.

They will then consider the offers, and choose (usually) the highest bidder. If that isn't you, then you're right, you wouldn't usually get a chance to raise your offer.

As I said, it's not common to get multiple bids in most areas these days, but where you see a house advertised with a closing date that's the process it's going through.

just been searching now & this page states you apply for a mortgage before you even submit an offer, that can't be right .

No, but you really should get an AIP (approval in principle) from your mortgage lender before you start putting in offers, and your solicitor will want to know you have your funding lined up and are proceedable.

As it would not be good to have an offer accepted and then be unable to proceed because your mortgage fell through.

I_have_spoken

wonder if I'm looking at it through rose coloured glasses.

How many houses have you looked at to get a sense of what is on the market?

Anyhow, I'd be looking very carefully at the quality of the work done and the fixtures and fittings used. It just says Argos/B&Q from the pics.

Also must go back there on a Fri/Sat night etc. to see how many wee neds are sitting on the walls necking Buckie and riding mini-motos down alleys.

Plus as it's a semi, would have to know if next door was a rental or owner-occupied.

If the sellers bought for £87k it's going to be very difficult to convince them to lose money unless they are totally desperate.

cheekyweegit

I_have_spoken wrote: »

How many houses have you looked at to get a sense of what is on the market?

Anyhow, I'd be looking very carefully at the quality of the work done and the fixtures and fittings used. It just says Argos/B&Q from the pics.

Also must go back there on a Fri/Sat night etc. to see how many wee neds are sitting on the walls necking Buckie and riding mini-motos down alleys.

Plus as it's a semi, would have to know if next door was a rental or owner-occupied.

If the sellers bought for £87k it's going to be very difficult to convince them to lose money unless they are totally desperate.

I'm pretty sure it's clear of neds on Friday / Saturday nights and no mini moto's either. The next street down is borderline and the one after that, my friend lives there, but I wouldn't.

The street Violetta is thinking of is virtually trouble free as far as I'm aware and there is no alleys, the road just sweeps round. The tiny posher houses across the road with the miniscule gardens were build on the grounds of an old Primary. Couldn't believe how many houses they squeezed on the plot.

One other thing to ask is if the house has been treated for wood worm, if so when? If not have a look for any tell tale signs as most of our houses have had it at some point. Can you get someone to look in the loft for signs?

Violetta_2

cheekyweegit wrote: »

Waves to Violetta after a very long time no see to say if you buy that house you will practically be my neighbour, I'm only approximately 5 minutes away from you.
Long post but hope it helps, and if you need to ask me anything just shout.

Brill thank's hope it's ok but I have pm'd you

googler wrote: »

Scottish Law Society doesn't go into too much detail, but can be relied on to be correct...

http://www.lawscot.org.uk/forthepublic/buying--selling-a-property

Excellent thanks for that

HAMISH_MCTAVISH wrote: »

OK, so it's not common for most houses to go to sealed bids with a closing date these days, unless it's unusually desirable/cheap/in a good area, etc.

No, but you really should get an AIP (approval in principle) from your mortgage lender before you start putting in offers, and your solicitor will want to know you have your funding lined up and are proceedable.

As it would not be good to have an offer accepted and then be unable to proceed because your mortgage fell through.

Have an AIP already but appreciate that's not a guarantee.

Violetta_2

I_have_spoken wrote: »

How many houses have you looked at to get a sense of what is on the market?

Anyhow, I'd be looking very carefully at the quality of the work done and the fixtures and fittings used. It just says Argos/B&Q from the pics.

Also must go back there on a Fri/Sat night etc. to see how many wee neds are sitting on the walls necking Buckie and riding mini-motos down alleys.

Plus as it's a semi, would have to know if next door was a rental or owner-occupied.

If the sellers bought for £87k it's going to be very difficult to convince them to lose money unless they are totally desperate.

Have looked at enough to realize that this is quite good for the price, not sure it's the exact 1 cheekyweegit is referring to. I know what you mean re B&Q & Argos stuff but think that is the budget we are in so goes with type of houses we are looking at.
We have had a drive round on a Friday night & seeing as we currently live right in the city centre, it was positively rural, but always a good thing to check.

cheekyweegit wrote: »

I'm pretty sure it's clear of neds on Friday / Saturday nights and no mini moto's either. The next street down is borderline and the one after that, my friend lives there, but I wouldn't.

The street Violetta is thinking of is virtually trouble free as far as I'm aware and there is no alleys, the road just sweeps round. The tiny posher houses across the road with the miniscule gardens were build on the grounds of an old Primary. Couldn't believe how many houses they squeezed on the plot.

One other thing to ask is if the house has been treated for wood worm, if so when? If not have a look for any tell tale signs as most of our houses have had it at some point. Can you get someone to look in the loft for signs?

Woodworm has been dealt with, you are going to be so handy for on the spot advice, I apologize in advance for the earbending.

cheekyweegit

Violetta wrote: »

Have looked at enough to realize that this is quite good for the price, not sure it's the exact 1 cheekyweegit is referring to. I know what you mean re B&Q & Argos stuff but think that is the budget we are in so goes with type of houses we are looking at.
We have had a drive round on a Friday night & seeing as we currently live right in the city centre, it was positively rural, but always a good thing to check.

Woodworm has been dealt with, you are going to be so handy for on the spot advice, I apologize in advance for the earbending.

Don't worry about the earbending, I'm hear if and when you need me, just shout, same for anyone else considering the area.

Oh and as for rural, again (not sure if you have kids) but your only 15-20 minutes walk away from two sets of ponds, which is briliant for the kids, one in Caird Park and the other at the back of Mains of Claverhouse / back of Trottick, my kids used to love this one with their bikes on the summers evenings with a loaf of smart price bread for the ducks / swans. (So wish they were little again writing this - sniff).

googler

HAMISH_MCTAVISH wrote: »

For any house that you are interested in your solicitor can put in what is called a "note of interest" with the vendor's solicitor.

If the vendor receives multiple notes of interest, then upon receipt of an offer they will notify all the other interested parties of a closing date, when offers must be received by.

Not 'will' - they may declare a closing date. They're under no obligation to do so. If an acceptable offer is received at any stage, they're at liberty to accept, regardless of any other notes of interest.

The note of interest scenario is a gentleman's agreement and has no legal status, therefore they may notify all the other interested parties, not 'will' ....

HAMISH_MCTAVISH

googler wrote: »

Not 'will' - they may declare a closing date. They're under no obligation to do so. If an acceptable offer is received at any stage, they're at liberty to accept, regardless of any other notes of interest.

The note of interest scenario is a gentleman's agreement and has no legal status, therefore they may notify all the other interested parties, not 'will' ....

Yes, technically that's absolutely correct.

However, in the real world, vendors and their solicitors will attempt to consider all offers the vast majority of the time, even if that's just calling the other interested parties solicitor and letting them know they need to put an offer in urgently if they want to be considered.

It is rare for a vendor not to want to receive a potential additional bid on a property when notes of interest have been put in.

And most solicitors would advise their clients to consider all offers.

So I suppose, to keep you happy, we could say....

For any house that you are interested in your solicitor can put in what is called a "note of interest" with the vendor's solicitor.

If the vendor receives multiple notes of interest, then upon receipt of an offer they will normally then notify all the other interested parties of a closing date, when offers must be received by.