How likely is it to get home report value?

[Cottoneyed12]

Living in Scotland and have bought houses in the past during a time where it was unlikely to receive full home report value and then other times when it was likely you will receive at least home report.

In your experience/opinion, how likely is it that you will get home report value currently if your house is in a well sought after area and in walk in condition?

Reason I ask is we are considering a part-exchange on our property and the house builders have offered us £5,000 less than home report. Our friends round the corner sold theirs for £5,000 over the home report value so we worry we could be potentially losing out on £10,000 but unsure whether our friends were very lucky?

The house builder want a quick sale within 4 weeks so are not willing for us to sell our house ourselves and then exchange so we either agree to their offer or lose the plot.

Advice

That's a difficult decision for you. I live in a flat. Three flats have sold here over the last year and they have all sold for a few thousand over home report value. When I purchased mine 4 years ago properties here were not selling as fast as they do now. I got it for home report value.

When house builders part exchange houses they offer a price (well the house builders I work for) based on being able to sell it in 90 days. They don't have the time to sit on a house for months to test the market, as they aren't in the business of selling 2nd hand houses.
You also won't have to pay any estate fee's which can be upwards of thousands and thousands.

Location is key.

Where I am it's not common for houses to sell for 10 - 15% over hike report!

@ thetrinityisshite

Thanks

Did you mean not common or not uncommon

We sold last year for home report value. House was niche market, rural location, awful public transport, but decent amenities i.e. doctor, school, pub.
It's honestly hard to judge and as a pp said you also have to weigh up what you might save in fees etc.
Depends on how much you like the house but developers doing part exchange are never going to give you the best possible deal financially..but it might benefit you overall depending on your situation. Good luck, house stuff is so stressful.

In hotspots like Edinburgh ,Glasgow West end etc properties are going well over home report
Elsewhere around Home report,unless yo get into a competitive bids situation

I missed on on 8/9 properties before I secured mine at closing date always offering at least 10% above even for house requiring a shit Ton of work. One house HR 195,000 no kitchen no back door previous owner died in it had to be kicked in, damp. Offered £222,000 at closing and I was outbid????? On checking zoopla sold someone bid £236,000 wtf
I paid £40,100 over HR for property I’m currently in since May 19.

Dobt take the builders offer sell on the market, 1 month on market is average speak to local estate agent about pricing and marketing x

It depends where you are. Where we are, definitely NOT Glasgow West, everything we've looked at has sold for around 10% over the home report.

East Ren everything goes at least 10-20 % over home report. I wouldn't be settling for less.