who is up to speed on edinburgh "offers over" prices?

[baconsandwich]

Not moved house for over ten years and the system seems to have changed a bit. Have seen flat in Marchmont which is advertised offers over £295k. Needs modernising. Realistically what are we looking at for sale price? Used to be the rule of thumb to add 20% or thereabouts but that's well out of date I think. So £310k? £320k? We haven't got a clue!

The thing that has changed is the introduction of the home report which includes a valuation and you get to see before you offer. As to what the current o/o percentage is - speak to your solicitor - most are via the ESPC and they keep a note of the o/o v. final sale price. It seems to vary due to size if house/flat and area of town. Basically get you hands on the home report and work out the value to you. PS mortgage company may or may not accept home report valuation and their valuation maybe lowerl

My experience with selling/buying in the West End of Glasgow (which also has traditionally had a fairly high O/O percentage) is that Estate Agents have been setting the O/O prices artificially low so that they still go for a certain percentage over.

It was around 10% O/O for us in both directions, but we were told that properties were reaching around the Home Report price. I'd get that first and use that as a guide for any offers.

thanks both - totally forgot about home reports!