Anyone bought in Edinburgh recently? Offers over...

[MrsMuddle]

My friend is moving back to Edinburgh after living abroad for a few years. I'm in Glasgow, and have noticed that lots more houses here are going on at a fixed price, and those that are "offers over" are going for less over than they used to.

I don't know exactly where in Edinburgh she will be looking, but it will be a family home in a good cachment area.

It's all very tentative at the moment, and they've not got a mortgage arranged, but she thinks she can afford appx 400k.

If she looks at FP, then it's clear what the price is. But does anyone know even vaguely how much over the asking price is being paid on O/O at the moment?

[knickerelasticjones]

I think it depends - but around 10% seems to be average. Tell her to look at the valuation of a house on the home report - it should give her an idea.

[MrsMuddle]

That's good to know. Not going for stupid money over the asking price now, then. When do buyers get the home report? Can they ask to see it before they view, or is it only for viewers who are going to proceed to survey? Is it held by the estate agents or the sellers? (Can you tell it's been a long time since I've bought or sold?!)

[knickerelasticjones]

hi there - you can ask for the home report any time. The point about the home report is that you don't need to go to survey (you could order a separate survey if you really want one, but it will basically duplicate what is in the home report).

I think you normally ask the estate agent (or solicitor) for the home report but it possibly depends on the property.

With offers over, its worth finding out if anybody has a "note of interest" on the property. This is something which a potential buyer can do to indicate they are interested and intend to bid. If there are no notes of interest you can put an offer in at any level over the asking price (1pence over if you so desired) and then it is just up to the seller to say yes or no.

[MrsMuddle]

Thanks for your help. Have passed all this information over...