How much to offer?

Tiners

Glasgowdan - I'm a homeowner, bought in 2001, paid the mortgage off by 2011 and the house is currently worth over 3x what I paid for it (Not that I think the last point is a good thing at all, either for me personally or for society in general or for the wider economy)

The fact that you refer to the ''Scottish market'' as a whole suggest your rather naive and biased v.i. opinion... Scotland is quite a big place with a whole range of different market conditions, for every property that you can show me that sold quickly for full HR valuation I'm confident I can show you one that sold for considerably below HR value, or one that has been left sat languishing on the market for a year or three.

Here's just one recent example of my contributions, which suggest I can offer a diverse opinion when it comes to house buying advice, https://forums.moneysavingexpert.com/discussion/5721248

Please feel free to show any examples where you've suggested a particular property may be overpriced or you've generally suggested a potential buyer be cautious etc, because all I can ever recall seeing from your previous posts is a recurring theme of urging and encouraging posters, especially inexperienced FTBers, to dive in and offer full asking price or above whilst disagreeing with, to the point of belittling, anyone who dares to offer an alternative opinion to that.

CheBee

Savvy_Saver1 wrote: »

Thanks for the differing advice, always useful to hear multiple perspectives.

I'm talking to my broker this morning about the next steps, and assuming that it will be get solicitor, note interest, and expect it to go to closing date. Anything he can do to help avoid that would be amazing of course.

If we managed to secure it, then we would plan to live it in for at least ten years I expect, if not 20, or potentially a lot longer. It would fully meet our expected needs for decades to come. I agree on the point that if you offer 70% of asking, you'll be renting forever. Whilst there can be properties which sit on the market for years in Scotland of course, this house, and this area generally, will not be the case I believe.

Given we plan to live there long term, I suspect our approach will be offer as much as we can afford, and hope we get it. That way, if we don't we won't be kicking ourselves.

I agree :j I offered the asking price for the flat I have just bought (FTB) and apparently two other people also put the same offer in but mine was accepted because I am not in a chain. It was tricky because I called the EA first thing in the morning so didn't know how to gauge the situation. Either way, I am happy with the price and I guess it's what you feel it’s worth at the end of the day. Good luck :beer:

topsales

Chances are it will go to a closing date and sealed bids. Having just sold a house in Scotland(Dundee) valued at 235k which then sold for 20k more I think it really depends on area. However, it seems that houses are selling at HR value plus some. Expect a closing date sometime soon and be guided by your solicitor.

Crashy_Time

glasgowdan wrote: »

Tiners you're being a bit harsh and dramatic and I've no idea what your agenda is or why you seem to know so much about my posting history or feel that's all I post about. It's slightly unnerving. I'm not trying to affect the property market, I'm not stupid and do actually realise a poster on a forum won't make a difference!!!

I also know a lot about Scottish housing prices after closely following it for a couple of years. I'm realistic. And first time buyers are welcome to spend years offering 70% on houses left right and centre, but they'll always be renters if they do this.

Try and keep things on topic. If you've nothing relevant to add then move on.

PS. Tiners I've just had a brief scan of your own posting history. Says it all really. Sorry for whatever situation you're in.

When did you buy if you don`t mind me asking?