Received Offer After Closing Date

publicguy

Hi there.

I post a message on behalf of a friend. Basically an offer was placed for her apartment after the closing time/date which was approx 2% more. The problem is that she wasn't made aware of this and already a valuation has been done, and pending structural report come tomorrow. She's been told that she can accept this late offer, but would be subject to the fees of both valuation and structural report. What would you suggest. Is it possible to sell these reports to the new owner, and what kind of fees are we talking about. I live in Scotland. Thanks for any help.

r.mac_2

Hi public guy and welcome to the forum.

It is possible for a buyer to 'buy into' a survey, be it a valuation or structural survey. However, I believe that this is at the discretion of the surveyor and the potential purchaser.

RICS Scotland can give a better idea of fees for surveys, but say £150 per valuation and £300 plus for a structural survey as a very rough guide, but it does depend on the firm used. Fees can vary significantly between the top and bottom end of the market.

If your friend has accepted an offer, and wishes to change her mind, then it is only right and fair that she picks up the cost of the surveys that have been completed by those whose offer she initially accepted. The solicitor acting for these purchasers could probably tell her the approximate costs outlaid by them on survey fees.

in terms of accepting the higher offer, do the finances stack up - i.e. once the fees for the other surveys are taken off this higher figure is there still a sigificant increase?

bear in mind that if it creates extra work for her solicitors they may charge her higher fees.

my best advice is for her to speak to her solicitor and ask their advice.

I hope this helps - if only a little

ellice

just sold property in scotland.until you have exchanged missives ,either party are free to withdraw.therefore you are not responsible for any costs.scottish sols like to be in each others pockets.so they are saying this so. buddies will not be upset. withdrew from my first buyers ,they did not keep to timescale for all surveys they wanted to have done.sol received letter from buyers sols saying how upset they were but they knew i would give 1 week

kingkano

I thought in Scotland once you accept an offer thast it, no gazumping??

ellice

nothing is concluded until missives are exchanged ,until sols are happy with deeds contracts etc same as england. its not as cut and dried as everyone thinks.

cattie

r.mac wrote: »

RICS Scotland can give a better idea of fees for surveys, but say £150 per valuation and £300 plus for a structural survey as a very rough guide, but it does depend on the firm used. Fees can vary significantly between the top and bottom end of the market.

Can you really get a structural survey for £300 up there in Scotland ?

Down here a homebuyers report is around £500 & building survey averages out at £800-£900 with vat.

Taffyscot

Hi all, What timing. I just saw a property on GSPC Scottish real estate site after trolling rightmove sites for a month. It is for my daughter who is on a very limited budget. I phoned up the after hours number and was told the property closing date for offers closed today but to call tomorrow to the solicitor's as I might be able to still offer. I am very confused because I thought that once an offer was in and on the table in Scotland that you could not make another offer. The estate agents here seem to do what they like tho. A few days ago I was told a house was still on the market and when I suggested I contact the solicitor for an offer was told well really it has an offer but still keeping it on the market unless it falls through. At first I thought Yah no gazzumping in Scotland but this is not really so. So what is the consensus of opinion here? Can we still view and put in an offer on this property tomorrow or not? Also how much over the asking price is normal? Do not want to bid too much yet not bid enough.
Very confused in Bonnie Scotland

publicguy

Thanks for all the replies, much appreciated.

I have now been enlightened to the whole story, more advise if possible. So basically bids were to be in at said time, and some bidder or to be more exact solicitor was to bid on behalf of a buyer. The solicitor was late by 30 minutes, unfortunately that high bid wasn't put forward. The Estate Agent tried to phone and put the late bid forward, but forgot to take into account that said person was at work (they did have a phone number).

So Monday was the closing day and Today (Wednesday) was when she was made aware of the late bid. She was asked whether she'd like to accept this new higher bid, but said it would both cost hundreds of pounds (valuation/structural fees) and also the solicitor wouldn't deal with it, as this might be reflective of underhand dealings. What could be done, if anything?