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Offers over??

(21 Posts)
50shadesofmeh Wed 10-Jul-13 14:48:49

I've just been to see my dream house and have second viewing from someone interested in my own house so getting to the stage I might get to make offer on the house I love.
Can I ask some opinions on what you would think someone advertising a house as offers over £169k would be looking for these days?

Yama Wed 10-Jul-13 14:50:45

Are you in Scotland? What does the Home Report say? How long has property been on the market?

PastaBeeandCheese Wed 10-Jul-13 15:49:34

If it is in England do you know the pricing history of the house? Has it been reduced at all? Are there any recent sales locally for comparisons?

I'd say they will take a minimum of £169. Of course, you can offer lower than £169 to test this and then up your offer if that's what you want to do.

50shadesofmeh Wed 10-Jul-13 16:00:37

Yep in Scotland it's been on nearly 6 weeks and still waiting on home report being sent through just wondered if offers over tends to be the asking price the higher priced you get.

50shadesofmeh Wed 10-Jul-13 16:01:36

No houses nearby for sale either quite hard to come by houses so don't want to mess about but most we are likely to have is £175k

badguider Wed 10-Jul-13 16:02:20

This changes every quarter or so depending on your local market so ask your solicitor.
And look at what similar properties have sold for this year.

50shadesofmeh Wed 10-Jul-13 16:03:26

Thanks will update once I know home report price

Crutchlow35 Wed 10-Jul-13 18:58:11

You need to know the HR valuation first.

50shadesofmeh Thu 11-Jul-13 16:17:53

Home report valuation was £175k

FoxMulder Thu 11-Jul-13 16:21:24

Our home report valuation was exactly the same as what we'd offered, which we thought was rather a coincidence. But the solicitor told us that they just use the figure that you offered for the valuation figure. Because its worth is what someone will pay. And it's basically saying 'yes, what you offered is fair'

But then, you haven't offered yet so makes no sense in your case sorry smile

JollyShortGiant Thu 11-Jul-13 16:21:58

It depends where you are too. In Aberdeen city and Shire you are still paying well over to get accepted.

Yama Thu 11-Jul-13 16:38:01

Fox - this is Scotland which has a slightly different system. Home Report is done prior to house going on the market. Apparently houses in Scotland go for slightly less that HR valuation.

We just bought and had to go £3 over HR but sold for £10k less that HR valuation.

If £175k is your limit then start with an offer of £170K. It's over the o/o but gives you chance to put in a better offer.

badguider Thu 11-Jul-13 16:46:42

I'd offer 170-172 and see what they say.
These days they seem to go for somewhere between the o/o price and hr price.

50shadesofmeh Thu 11-Jul-13 17:42:35

Sounds like a plan :-) obviously depends what I get for my house but will start at £170k and work our way up.

Crutchlow35 Thu 11-Jul-13 17:57:13

I am a Scottish EA and with a HR valuation of £175 after 6 weeks I'd start st £165 with a view to coming up to £170. If you start at £170 you are likely to end up paying the HR valuation.

FCEK Thu 11-Jul-13 18:11:40

Gatecrashing as I'm also in Scotland. Our area isn't doing too good and properties are going for much lower than asking price. If a property is offers over 110000 what offer should you start with?

Crutchlow35 Thu 11-Jul-13 18:15:04

How long has it been on the market and roughly what area are you in?pm me if you prefer.

FCEK Thu 11-Jul-13 18:18:27

Thanks, have pm you x

50shadesofmeh Thu 11-Jul-13 19:05:01

Hi crutchlow thanks for your expertise I'm just outside Glasgow in south Lanarkshire property been on since end of May.

Crutchlow35 Thu 11-Jul-13 19:32:22

No worries. Start low and work up. With it just being new to the market the EA should push hard for close to £175k. You need to negotiate hard. Good luck.

50shadesofmeh Thu 11-Jul-13 21:05:28

Thanks

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