Scotland - current climate re: house offers versus Home Report valuation

jimwillsher

Hi all

I'm looking for opinions and/or recent experience from home buyers/sellers in Scotland please.

Our property - 4 bed detached with 2 acres in Perthshire - is on the market at "Guide price £375k". The Home Report also valued it at £375k. We've received one offer which we considered to be derisory, almost insulting, and the prospective purchasers reckon that the "current climate" is to offer around 8% below the Home Report value. Of course we'd expect them to say something like that, but we're wondering if there is any truth in that, or whether we really should be sticking to our guns and asking for the full market value?

Many thanks



Jim

davidmcn

Climates are very localised, you'd be best to take advice from your agents.


Your HR valuation is the valuer's best guess as to what you ought to be able to sell for, but valuation isn't an exact science, particularly if there aren't similar properties which have recently sold.

jimwillsher

Thansk David. The properties are all unique (the hamlet of 12 houses has evolved over time) and the only benchmark we have is the house behind ours (totally different house style and age though) which was valued at 360 and sold for 362 about 3 months ago. This seems a bit more realistic :-)

mvteng

I suppose it also depends on how long its been for sale / how many viewings you've had / how desperate you are for a sale.

If its only been on the market for a week & you've already had an offer, I would wait.

If its been on the market for a year & this is your first offer, maybe you need to think about it.

jimwillsher

It's been on the market for exactly 4 weeks and the people who made the offer made it after their second viewing. And we're not desperate to move.

We were definitely not going to accept, but they have asked for a third viewing (and will no doubt arrive with a bag of sweeties) and we wanted to have some idea of the current market conditions. If they claimed that people were offering less than market value, we'd want to reasonable sure that was just a try-on rather than fact.

We'll see what happens later this week when they return.

Thanks folks.


Jim