First Time House Buyer Help?

afclegend

Hi all,

I'm planning on getting my first house (scarry!!) anyways pretty much got morgages etc.. sorted or have idea of what sort of figures i have to work with. Basically since i have never done this before just got couple of Questions for you guys.

I live in Scotland (Aberdeen area) and housing prices are crazy here dosn;t seem to matter what the area is like, basically prob not right or wrong answer just an idea i'm looking for.

If a house on the market is going for offers over £70,000 does anyone know what sort of figure i should put in over i don't want to be putting in silly bids like i have been hearing some folk doing up here but i don't want to be wasting money all the time on surveys etc..

cheers

advent1122

From what I have read on here you will be looking at 30% over the price.
Do a quick search on here with "aberdeen offers over" and you will have lots to read.

epz_2

Headintheclouds wrote: »

Contrary to popular belief, you don't have to have the survey done before you offer up here. Even if it goes to a closed bid, you can still offer 'Subject to survey' and then either pull out or negotiate the price down if there are any problems once you get the results back. Nothing is binding for either party until the missives have concluded (i.e. exchange)

Good luck!

agreed, i put an offer in subject to survey when the place was going to a closeing date, 9 other people were in the running and 7 go surveys.

my offer was 2nd highest but 30k less than the top guy so i missed out the solicitor was saying that they were slightly concerned about the "subject to survey" clause but otherwise impressed with my offer.

all i could think was sodding cheek, they were obviously going to take the highest offer and 6 people blew hundereds of pounds each for nothing.

Headintheclouds_3

epz wrote: »

agreed, i put an offer in subject to survey when the place was going to a closeing date, 9 other people were in the running and 7 go surveys.

I understand that way back in yon day (before I moved here), accepting an offer made it binding contractually, so you'd obviously want to have the survey done before offering. Doesn't seem to be the case nowadays, though, and it follows the English model more or less - not sure whether that's good or bad!

scotgirl

The type of property you intend to buy will affect the % you need to put in. My friend has just sold her 1 bed flat in the centre of Aberdeen for exactly 50% over the asking price, this is quiet common on 1 bed flats. Larger properties slightly out of town can go for a bit less than that.

I totally agree with the above advice - offer subject to survey to save some money. I have friends who have offered on well over 10 properties - doing a survey on all would have cost thousands.

Good luck!

nick22abdn

Hi,

Just sold my one bed flat in Aberdeen (just off King St, opposite Morrisons) for exactly 50% over the offers over (was up at £70k). However, it was marketed at quite a low price to attract interest and some agents (Ab Cons for example) seem to be overpricing at the moment. To give you an idea, mine was fully refurbed 2 years ago - replastered, rewired, replumbed, new kitchen, bathroom etc and solid wood floors just laid. Communal areas had also just been redone.
Seaton, and Tilly will sell for quite a bit lees than mine, George street area deduct around 10k, add 15-25k for Rosemount and Ferryhill and look at around £165k+ for prime west end.

Good Luck!