Offer prices in Scotland

Darkine

I know this will be a difficult question to answer, but in general terms, how much would we offer above the Home Report for a flat which is valued at £65, 00 and selling at offers over £62,000. The property has a band B council tax in Renfrewshire, Scotland. Any general guidelines would be much appreciated. Can I ask the seller what price she is reasonably looking for when I make my second visit?
Thanks in advance for any replies.

Skibunny40

Speak to your solicitor before making any offer. They'll know how good the local market is and how much you'll need to offer. Is the flat going to a closing date? If you're worried about someone making an offer before you go back for a second viewing, ask your solicitor to put in a Note of Interest, the you'll be given a chance to make your offer before the seller decides.

MovingForwards

Have any similar properties sold within the last year in and around a few mile radius?

Have you got your solicitor lined up and had a chat with them?

How long has it been on the market?

When I made my offer, I went in at the price it was listed at, that then got the seller to say how much they wanted, it was £2k under the valuation, but still worth it to me. My mortgage valuation came in at what I had offered.

theartfullodger

You offer whatever you wish below, same as, above asking.

I offered 12% below "offers above" price in Scotland.  Got the bluntest rudest ever response via estate agent including how vendor had never been so insulted and would never accept such an offer.  I thanked them.

A week later repeated same offer.  Accepted.  Sold it 2 weeks ago after 18 years.

Darkine

 thanks guys, appreciate your quick responses. Flat has been on the market just over a week and we’re going for our 2nd viewing this afternoon. My solicitor knows that we are looking but haven’t approached him on this property yet. Probably best to do so after this afternoon thanks. I think I’ll just ask the owner what she is expecting price wise when I’m there. Will also check similar flat prices in the area as you suggest We’re buying for our son and girlfriend, so taking them this afternoon for a look before we proceed. Fingers crossed and thanks for help so far. It’s really appreciated.

MovingForwards

@Darkine I had a quick look at the flats around that price in that area.

If it is the ex-council ones, that look like concrete blocks, a couple of things I will point out:

1.Neighbours will be a big impact on their lives, either above or next door. Noise travels very easy.

2. If the bedrooms are next to the communal stairwell, all they will hear when trying to sleep is people going up and down the stairs, the flat doors closing / opening as well as the communal doors opening / closing.

3. Smells from food, smoking etc will travel through the building and get into the flat.

4. Look into who the owners are of the fuehold (freehold), or see if the council are still involved. whilst the properties may all be owned and no council tenants, if there are any council tenancies or council involvement with the building, the council do put notices through the letterbox.

5. Research the process for joint / common hold repairs, unless you are familiar with them.

I've lived in one like it for 19 months and would pick another property than buy one.

If it isn't the type of property I'm describing, then I apologise now.

Darkine

thanks MovingForward for your informative post which is appreciated.its a top floor flat and bedrooms are at the other side of the stairwell. I’ve been up to the property area a number of times now during the weekday, night times and weekend to check out the neighbouring areas for noise and people hanging about and it’s been quiet but will continue to check out. It’s a hard one with the neighbours but again, been up and down the close and looks relatively neat and tidy with not a lot of movement from people in and out. Fingers crossed! I’ll check out the other points with our lawyer tomorrow and hopefully he will look into further for me. Was advised that monthly factors fee was £38 per month. Thanks again for your constructive points which help considerably during this process. 

davidmcn

MovingForwards said:

4. Look into who the owners are of the fuehold (freehold), or see if the council are still involved. whilst the properties may all be owned and no council tenants, if there are any council tenancies or council involvement with the building, the council do put notices through the letterbox.

"Feuhold". Which was abolished some years back, it's all just "ownership" now. The common parts are owned jointly by all the flat owners, I guess what you mean is who are the factors (i.e. the property management company appointed by the owners), which is likely to be the council (or housing association) if it's ex-social housing. The relevant info will all be in the Home Report anyway, which I trust the OP has already looked at?

Darkine

Thanks for the clarification on this issue davidmcn

paddyz

Don’t bother asking what the seller is looking for, better to find out what the house is really worth and what situation they are in, have they found another place ? Some are in a race to find a buyer and  some are not. 
I was told by the owners of my current home they was looking for 5k above the offers over price of 130k  
I put in an over for 5 k under  it was refused, then they agreed on 3 k under 
2 days later.