Stupid needs MSE's help re: Offer accepted.

davidmcn

Pixie5740 wrote: »

You still need to view it.

Which raises another problem, as standard advice to sellers is not to allow further viewings until missives are concluded (in case the buyer has second thoughts!).

random-wanderer

Hey Pixie, yes, they advised 12k over not 7k, 7k was the amount over what we originally intended to offer. But because it all happened so quickly I don't think the solicitor had seen the home report before their suggestion. However, a few of the other posts on here have kind of reassured me that it isn't as dramatically over as it first felt, especially as someone (was it David) said cat 2's really arn't that serious (I was thinking "what if the place is falling apart?")

Re: viewing and area, luckily part of my MA course which I started the previous year was community profiling and we did a series of CP's of the surrounding areas which gave me a great understanding of the way the area had developed as well as what it is like economically, socially, etc etc hence me searching for properties in that area (phew)

random-wanderer

Hi David, thats quite true, I found out when I emailed the solicitor on thur. Its a bit of a shame and worry etc. My plan was to view and decide if we wanted a surveyor. The solicitor said that we could get a surveyor in but that was very unusual in Scotland because the Home Reports are equivalents? or legally binding?...I didn't really understand why that would be so abnormal really, are home reports in Scotland better quality and more trust worthy than any where else? She went on to suggest a surveyor she knows and offered to make an arrangement for me. But she did say it would be more usual to get one in to investigate something specific that had come up on the HR.

What do you think about all this, is it normal? Should I get my own surveyor in independently just to be sure?

random-wanderer

Hey Pixie, chill, no wind up, see title. I really don't know anything about this. I'm here because I need help understanding all this stuff. Everything you are telling me is new to me. Up until 10 years a go I was a jobless doley...I can't believe I'm doing an MA either ! But someone saw something in me, we all have different skills in different areas. I'm not doing an MA in house sales, a fish can't walk. I was very slow to becoming a "normal" ish adult with a "normal" ish life. This is a steep learning curb for me. I wish I had come here or looked more stuff up before I did this, hence the title of the thread.

I suppose the solicitor is being professional. I told you what she said in the previous post. PICS surveyors, I shall look that up. As I said before, I only saw the house the night before it was closing for offers and didn't get to see the home report in time, which isn't an excuse, but if there had been more time I would have definitely been able to see it. That aside, the only loss there is that I didn't get to see the valuation or cat 2's and I feel reassured by this thread that I havn't lost out as much as I thought I had.

Apologies for boggling your mind, get well soon xx

random-wanderer

+ I am so grateful for all the advice you are giving me and even the telling offs, its all welcome xxx

Pixie5740

If your community profiling research is as good as your research into the house buying process I don't hold out much hope for you knowing the area you are trying to buy in that well at all. Surely someone doing a MA qualification can use an internet search engine.

https://www.citizensadvice.org.uk/scotland/housing/buying-and-selling-s/buying-a-home-s/

https://www.moneyadviceservice.org.uk/en/articles/cost-timeline-for-buying-a-property-in-scotland

You will note that in both sources (there are many others readily available) that reading the Home Report and considering further surveys comes before making an offer. It should have been decided whether you were making an unconditional offer or conditional (on survey outcome) offer before submitting the offer.

Whats the point of trying to get your own survey done now? You're not in a position to negotiate. Your options are to proceed with the purchase or withdraw.

random-wanderer

RICS survey, I looked it up, thats very reassuring Pixie, thank you....I never knew about the subject to survey otherwise I would have, that must mean that my solicitor was doing me a favour by saying that we could get our own one in if we wanted to.

I'm a little worried that you all think I am beyond redemption and no longer want to offer any advise. I invite anyone to pass comment on the last post I addressed to David. Really appreciate everyone's thoughts and advice.

exiled_red

I'm assuming that the property was an offers over, which is most common in Scotland, not knowing the price of the house I don't know what percentage your £12k over valuation is.

My wife and I are in the process of moving (both buying and selling) in Edinburgh at the moment. We have just sold our flat for 10% over the home report valuation and have just paid nearly 15% over the valuation for our house, this may just be Edinburgh and the market will vary from place to place. The market in Edinburgh is that competitive at the moment (there are relatively few properties on the market and alot of people lookig to buy), we have been told that currently we properties like the ones we have been buying and selling are going for 10-20% over the home report value. We lost out on properties because people were bidding stupid money at closing, we lost put the second highest bid on one place (~18% over valuation) and lost out to someone who offered 40% over valuation. So your it could very well have been that you didn't offer much more than any of the other bidders.

The cat2's on the home report aren't necessarily something to worry about our home report states cat2 as "Repairs or replacement requiring future attention, but estimates are still advised" so you just need to assess these points and see which really need attention and which don't.

Obviously it would be better if you had seen the report before looking at the property and try to assess the situation yourself before putting in an offer. Not having done that I guess the best thing to do is consider if you want to go ahead with buying the property or if you want to withdraw.

random-wanderer

Pixie5740 wrote: »

If your community planning research is as good as your research into the house buying process I don't hold out much hope for you knowing the area you are trying to buy in that well at all. Surely someone doing a MA qualification can use an internet search engine.

You are right. Shall I give up? Or reflect and learn?

Pixie5740 wrote: »

https://www.citizensadvice.org.uk/scotland/housing/buying-and-selling-s/buying-a-home-s/

https://www.moneyadviceservice.org.uk/en/articles/cost-timeline-for-buying-a-property-in-scotland

You will note that in both sources (there are many others readily available) that reading the Home Report and considering further surveys comes before making an offer. It should have been decided whether you were making an unconditional offer or conditional (on survey outcome) offer before submitting the offer.

Yes, I only wish I had seen the property sooner and I would have had time to think of requesting the home report etc. I never knew about conditional vs unconditional offers and was so panicked about missing the due date which was the morning after the night I saw it, but I did tell my solicitor I was new to all this and had no idea about my options etc. I don't think its her fault at all, she probably didn't realise just how much I didn't know.

Pixie5740 wrote: »

Whats the point of trying to get your own survey done now? You're not in a position to negotiate. Your options are to proceed with the purchase or withdraw.

Yes that's fine by me, I only wanted to know how official their home report survey was to help me make a decision on whether to get a private surveyor in or not.

random-wanderer

Hey Red, thanks so much, I feel so reassured by what you have said, I am beginning to realise that things are alright...with an awareness that it is more a providential lucky escape rather than skill.

I really like the property and there is no other around that ticks the boxes it ticks so I think we will stick with it.

The losing out happened to us on a few places that we absolutely loved too so when I spotted this one and saw it was going in a few hours I just thought "get in quick" etc.

Thanks again, it helps so much to know that our offer isn't so abnormal. I hope you sell and find yours soon :beer: