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FTB and offers over system (Scotland)
Comments
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I have sold and bought in the last year and had my eye on prices - market at and sold for prices for the last 2 years or so. Not much is going for home report value. Only houses that are going to closing date due to high demand.
I am in Glasgow. Advertised at offers over £200k - I would be offering under £190k and hoping to make a deal for around £190k. If it was in a very fast selling area in Glasgow/west it would have been under offer by now, but since it is not....
The home report value doesnt mean thats what it is worth, it is an estimate based on many things. What are similar houses selling for in and around that area?0 -
I believe that if you are not embarassed by your first offer then you have offered too much! I think £203k is too much for first offer. And if thats your max then you should offer less so that at least you can then offer more up to around that value.0
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Thanks everyone. Really appreciate all your replies.
My solicitor is going to have a chat with the estate agent in the morning. They have advised to go in with a lower offer and work up. If the sellers hold out for the home report value i won't get it as can't afford to go that high but hoping that if it comes to it they might meet half way.
The estate agent says there are lots of viewings booked for the rest of the week but I guess they all say that!
Ellie, we are in the west of Scotland although our mortgage advisor says that at the moment things tend to be selling at the home report value. Hoping if you are right we may get a deal!0 -
I've been house hunting in the Glasgow east end ,similar to you in that I also stopped for a period of time but kept an eye on the market.
I think its slowed down somewhat and properties are being reduced from the original valuation.
I think £202k is a good starting point with the anticipation of meeting somewhere in the middle. Don't over stretch yourself.
I also did the verbal bidding on my own and only involved solicitor at formal offer stage.
Good luck0
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