Scottish house prices - Offers over?

hawfannybaws

I am looking at a tenement flat in the Polloksheilds/Strathbungo area - the agent has the property listed as offers over £125,000. There seems to be a few around at this sort of price range although they do seem to be selling quickly. If I put in an offer 10% over, can I make a revised offer it it get's rejected? Do I have to go through the solicitor or can I just make an offer to the vendor with the 24hr proviso as suggested above?

R00STER00

hawfannybaws wrote:

I am looking at a tenement flat in the Polloksheilds/Strathbungo area - the agent has the property listed as offers over £125,000. There seems to be a few around at this sort of price range although they do seem to be selling quickly. If I put in an offer 10% over, can I make a revised offer it it get's rejected? Do I have to go through the solicitor or can I just make an offer to the vendor with the 24hr proviso as suggested above?

I think you'll be lucky at 10% (Strathbungo is quite desirable).

You can put as many offers in as you like. It is usually done through a solicitor but I guess there is nothing to stop you asking the vendor directly.

littlereddevil

Hi irnbru
Aberdeen


My daughters friend just sold a 1 bedroom flat overs over £54000 for £69500

Everything here is selling so well at the moment

Murray

anneg wrote:

In my experience it has always gone to the highest bidder.
When does it not?

I know of a situation when the highest bid wasn't accepted because of the conditions attached to the offer (the highest bidder wanted to swap bits of land).

pollocmc

hawfannybaws wrote:

I am looking at a tenement flat in the Polloksheilds/Strathbungo area - the agent has the property listed as offers over £125,000. There seems to be a few around at this sort of price range although they do seem to be selling quickly. If I put in an offer 10% over, can I make a revised offer it it get's rejected? Do I have to go through the solicitor or can I just make an offer to the vendor with the 24hr proviso as suggested above?

Here's what happened with mine. Guy asks me how much I want for a straight sale. I tell him, he says ok. Next day offers 15K under what we'd agreed (if only I'd shook his hand - I could have shaken him by the neck). I say I'll think about it. I stew on it over the weekend. I go back and offer to spli the difference (booooooohhh) and he accepts. He was probably kicking himself for accepting my first price and decided to chance his arm. It was still a good offer though.

All this can be done verbally through the Estate Agents without involving solicitors at this stage and it must always be done "Subject to Survey" so you don't buy a pig in a poke (ids that just a Scots phrase). This way you can avoid surveying houses you've no hope of getting. They are supposed to negotiate on the vendors behalf but in truth if they think the offer is fair they'll want it off their books quickly to keep the perception of a fast moving market.

If you go in with 10% (although my gut feeling is that this is too low) hey'll do anything to keep you on board. The fact that there are a few up for sale in that area doesn't mean you'll get it on the cheap but you can always play one off the other and you'll get one to bite I'm sure and there will always be other ones coming up. Remember, you're only putting an offer in. There is a way to go (and a lot of stress) before alls done and dusted.

HTH

pollocmc

irnbru_2

hawfannybaws wrote:

I am looking at a tenement flat in the Polloksheilds/Strathbungo area - the agent has the property listed as offers over £125,000. There seems to be a few around at this sort of price range although they do seem to be selling quickly. If I put in an offer 10% over, can I make a revised offer it it get's rejected? Do I have to go through the solicitor or can I just make an offer to the vendor with the 24hr proviso as suggested above?

:think:

So I got nosey .......... and picked the first flat that matched the description on GSPC.

Off to nethouseprices and the average for the postcode was 133K.

So thats a whopping 6.4% with the peak OO being 15%.

Do your research and stick to your price.

Good luck!

Jockthearab

We viewed a house in Dundee o/o £139000 in early May-lovely house extended from 3 to 5 bedrooms. Really nicely finished etc. We went straight in at £150000, but our solicitor got word back from the Estate Agent saying that they wanted "considerably more than what we had offered"...

Fast forward to 3 weeks ago, when we offered on a fixed price house (below the asking price of £155000 & agreed a deal), our solicitor said that the vendors for the last house had asked if we were still interested. I said we were not prepared to pay more than £150000 we had originally offered. It is now being marketed at a fixed price of £155000, not 'quite considerably' more than we had offered.

They took the gamble holding out for a far higher offer which obviously hasn't materialised. Basically for the sake of £5k, they could have been moving out this week...because I am!!!!!!!