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Confused what to offer on a house...

(3 Posts)
UnOeufIsEnough Tue 29-Mar-16 19:49:46

We've seen a house in Midlothian we'd like to put in an offer on and I'm confused about home report values.

The house is nearly derelict and the home report values it at £250k. It's going to a closing date so there must be other interested parties. What's the done thing with home report value? Is there any point offering below the HRV if it's going to a closing date?

starving Tue 29-Mar-16 22:41:16

If it is going to closing date and you know there are other intersted parties you have to go in with your best offer as you will probably not get the chance to up it. Unless you have a substantial amount of ££ it is wise not to go above the home report valuation as you would be unlikely to get a mortgage for anything over this.

OneMagnumisneverenough Wed 30-Mar-16 10:33:40

What's the offers over request amount in relation to the home report value?

If there are other parties involved then it will obviously go over the offers over but depending on where that sits in relation to the HRV you may or may not need to go over or at that.

The best thing to do really is decide what you can afford, how much it's worth to you and bid accordingly - easier said than done though I know.

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