How do you know what to offer on house?

BitterAndTwisted

If they have only owned the property for three years, do you know what they paid for it? They can't have reduced much of the loan in that period and are unlikely to see back much of their buying-costs either. Moving for jobs sounds like they're really splitting up. If so, expect to be dicked about at every turn while they argue between themselves about any offers they receive because of how much they "need" to receive in order to move on. Quite possibly withdrawing it from the market when one of them refuses to leave.

Soldierearth54

ringo_24601 wrote: »

Now, if it's a change of job that requires relocation; they'll probably be getting a relocation allowance and they may need to move quickly..

Have you checked out how much they paid for it ? Check Zoopla

Cheers, I've looking at wrong thing on zoopla. They bought it for £165k in Jan 2012

Soldierearth54

googler wrote: »

So, you pick yourself up from in front of your computer screen, and drive/walk/cycle to the property, and look at those around it.

You compile a list of those which match it exactly, those which look close to it, and those which are far larger/smaller. You then match this list to the Zoopla sold prices.

If it's a recent build, since 2000 or so, you may find the planning application for the development on the local council's website, and this will tell you the rooms in each house style.

Recent planning apps will also tell you which houses have approval for extensions, so you know which to look at to see if extensions have been built.

What's the Home Report valuation? How much spare cash do you have that would allow you to bid over this figure? This is the amount your lender will lend up to, so unless you have significantly more than the mortgage deposit in hand, that valuation will determine the level of your offer. This will also apply to everyone else who will need a mortgage on the property, so offers will tend to be around the HR valuation.

Have you hired a solicitor local to the area in which you're buying?

Waiting on home report being emailed today

Soldierearth54

BitterAndTwisted wrote: »

If they have only owned the property for three years, do you know what they paid for it? They can't have reduced much of the loan in that period and are unlikely to see back much of their buying-costs either. Moving for jobs sounds like they're really splitting up. If so, expect to be dicked about at every turn while they argue between themselves about any offers they receive because of how much they "need" to receive in order to move on. Quite possibly withdrawing it from the market when one of them refuses to leave.

I bloody hope not!! They paid £165

comeandgo

Are you new to buying in Scotland? I ask as you mention chain. No seller or buyer in Scotland gives a toss about a chain, also you will get a valuation and some decent info from the home report. Why are you only looking at it now? And depending on where you are looking offers over do mean offers over, sometimes 10% over.

ConfusedofYorkshire

mickp67 wrote: »

It is in Scotland. Isn't it still a marketing ploy in Scotland?

No, my understanding is that in Scotland they mean it. It's a different process

comeandgo

Also you will need a solicitor to put your offer in and they usually advise you on the price. If you put an offer in and the sellers solicitor writes to say it's been accepted you have bought a house,

Soldierearth54

comeandgo wrote: »

Are you new to buying in Scotland? I ask as you mention chain. No seller or buyer in Scotland gives a toss about a chain, also you will get a valuation and some decent info from the home report. Why are you only looking at it now? And depending on where you are looking offers over do mean offers over, sometimes 10% over.

Nope not new to buying. I'm a buyer and I care about a chain! Neither buyer nor vendor being in a chain means the process moves quicker and makes me buying that particular house more attractive and vice versa.

I viewed the house on Sunday, that's why I'm only looking at the home report now.

Soldierearth54

comeandgo wrote: »

Also you will need a solicitor to put your offer in and they usually advise you on the price. If you put an offer in and the sellers solicitor writes to say it's been accepted you have bought a house,

I asked the solicitor for advice on offer and they said they wouldn't advise that!!?!

googler

mickp67 wrote: »

Waiting on home report being emailed today

Nothing to stop you phoning the selling agent and asking

"What's the HR valuation?"