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Savvy_Saver1
Posts: 16 Forumite
Hi all,
We've found a house that we love in our ideal area (which popular generally) that ticks all the boxes for us. We really want to secure it. We are in Scotland, and it's listed as offers over 285k with home value of 315k. The house got listed on Friday and has already been viewed 6 - 8 times.
They vendors are selling as they have got divorced, so they could be looking for a quick sale, or potentially may take a while if they need to find two new houses in two chains. We are first time buyers and so can be very flexible - either fast or patient.
This is the first time we will be offering, and are worried we'll miss out. How much should we offer?
We've found a house that we love in our ideal area (which popular generally) that ticks all the boxes for us. We really want to secure it. We are in Scotland, and it's listed as offers over 285k with home value of 315k. The house got listed on Friday and has already been viewed 6 - 8 times.
They vendors are selling as they have got divorced, so they could be looking for a quick sale, or potentially may take a while if they need to find two new houses in two chains. We are first time buyers and so can be very flexible - either fast or patient.
This is the first time we will be offering, and are worried we'll miss out. How much should we offer?
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Comments
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315. And be prepared for them to say "thanks for your offer, we have other interest and will likely be setting a closing date for best offers".0
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Nobody can really answer that without knowing anything about the property. I know exactly what I’d offer on any house in the area I live. But ask me what I’d pay for something on the opposite side of the city, in a different postcode and I’d need to look at sold price histories, information about the area, have browse through property listings etc etc.
Appreciate it’s a bit different in Scotland though.0 -
Fiesto's advice is good, but I'd generally ignore the advice of certain contributors on here who have recently bought into the bubble and are now very worried about any potential fall, or even just a stall, in house prices...
Subsequently they now spend all their time on here desperately trying to ramp up the market and encourage [STRIKE]scare[/STRIKE] anyone and everyone, especially inexperienced FTBers, into diving in and immediately offering full asking or above.0 -
I know the market in much of Scotland, and if the OP wants a house to live in rather than think about, this is what they need to do.
And my house is a 30-40 year home. I don't care about property values. It'll be paid off by the time I'm 43...0 -
glasgowdan wrote: »I know the market in much of Scotland, and if the OP wants a house to live in rather than think about, this is what they need to do.
And my house is a 30-40 year home. I don't care about property values. It'll be paid off by the time I'm 43...
For someone who is so relaxed and comfortable with their own situation and claims they ''don't care about property values'' it's curious that you seem to be on here morning, noon and night always with the same market ramping theme... urging, encouraging, even scaring any potential buyers to pay full asking price or above for any property regardless of how little facts or information you have to go on.
Whilst simultaneously attempting to mock, ridicule and shout down anyone who possibly urges caution or dares to suggest that a particular property (or the market in general) might be overpriced and that rampant HPI might not necessarily be such a great thing.0 -
Your offer has to be put in by your solicitor, ask them, they know the market but I’m with glasgowdan. The houses in my area sell very quickly and go for the home report value or over. If House goes to closing date you get one chance, too low and you don’t get it.0
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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.0 -
glasgowdan - No agenda here, It is though rather difficult to avoid your posting history as it's guaranteed that every new thread that's in anyway related to a ''what should I offer'' theme then you'll be there instantly encouraging the potential buyer to dive in and offer full asking price or above immediately.
I don't pretend to know very much about the Scottish market, I do keep an eye on it just out of casual interest and I've got a number of Scottish properties saved on RM that have been sat on the market unsold for a year or (much) longer, which doesn't quite tally with your claims of how ''hot'' it is and that everything is flying off the shelves at asking price or over.
As for keeping things on topic, I think you'll find you were the one who started discussing your personal situation in this thread, when all I initially did was offer general advice and opinion.0 -
glasgowdan - No agenda here, It is though rather difficult to avoid your posting history as it's guaranteed that every new thread that's in anyway related to a ''what should I offer'' theme then you'll be there instantly encouraging the potential buyer to dive in and offer full asking price or above immediately.
Have a look...and compare it to yours. I am a much more diverse poster and don't jump on every house price thread the way you do. Please...seriously, just have a look at them both and compare!
Are you a home owner? Looking to buy? Renter? Plans?0 -
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.0
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