Page 3 | Buying and selling in Scotland

Onebabyandamadcat · 2021-03-07T07:25:03+00:00

Ive seen lots of threads about buying and selling but I know up here it's a bit different from the English system so thought I'd start a new thread if anyone else wants to join. We've spent the weekend getting our house sorted to sell. Estate agent is coming tomorrow. This was our first home so I've never sold a house before so don't really now what to expect. Two houses I've loved have been put on the market and sold in the past fortnight. Irrationally worried ours won't sell and also that it sells too quickly and we don't find somewhere we like to buy 😣. Anyone else?

Clydie89 · 03/04/2021 20:48

Hi just wanted to jump on as someone who's recently sold. We offered on a house before putting ours on the market as we had quite specific needs and no family nearby so didn't want to be homeless with a toddler and dog! We then sold within 2 weeks of our offer being accepted.

We had 25 viewings over a week, 5 offers and went with the highest cash buyer for 10.5% over HR! Delighted. Our offer on our next house was accepted at 5% over asking but it's more expensive and we'll not complete before stamp duty holiday so had to take that into account, plus just sheer luck.

The owner of the house we're buying has lived in it for her whole adult life, where she's from originally is not far from my DHs hometown. We have a daughter the same age theirs was when they moved in etc. We viewed early and offered straight away. She accepted our offer and cancelled further viewings against her agents advice. I have no doubt we'd have been priced out otherwise so it pays to have a good chat with the sellers and butter them up is all I can say!

I0NA · 03/04/2021 22:36

@SoulMateDestiny

Hi one mad cat and baby. Are you allowed to post a link to a house? My house has had no viewer's for at least week. It's very disheartening . It seems like posher more desirable areas. Hiuses are selling like hot cakes but not where I am.

My friend just sold her two bed flat in 8 days. Not a posh area, a village in the central belt, mixed private and ex council. Great schools. Flat wasn’t in wonderful condition, most people would want to put in a new kitchen and bathroom and redecorate.

Offers over £93k, home report value 98k, sold for 114.

Crazy.

ToastTriangles · 03/04/2021 22:38

@Onebabyandamadcat we'd heard stories of only being able view properties if you are already sold or don't need to. We offered on the one last week as chain free because our current mortgage is so small that we could have got a second mortgage for it but if we find somewhere at the top of our budget we won't be able to do that. We are happy to accept a low price for our current flat though as it's not an expensive area and we can afford to take a hit on it to get the right thing but sellers might not see it like that. This is the first thing we've offered on in 18 months of looking though so really don't think selling first is something I'm comfortable with unless we are going to go into rented while we look.

@SoulMateDestiny you are allowed to post links to your home on here, I was reading a thread on here recently where someone posted their listing in the property topic and got lots of advice.

@Clydie89 did your offers come from a closing date? Would you be comfortable saying the council area or general vicinity you are buying/selling in? Thinking it might help to start to get a picture of what things are going for in what areas.

An estate agent I follow in Ayrshire posted some March stats and said they had sold 38 properties, 15 at closing dates and had a new record of £266,000 over HR value across all sales for the month.

ToastTriangles · 03/04/2021 22:40

@I0NA that is crazy, do you know if it was at a closing date and how many offers there were?

Clydie89 · 03/04/2021 22:45

@toasttriangles yes we went to a closing date after 3 notes of interest and before another on our street went on for cheaper with the same agent (smaller garden /house, but not much different). I'm in Lanarkshire. Estate agent said things are still moving quickly but it's past the peak and calming down again now.

ToastTriangles · 03/04/2021 23:03

@Clydie89 thanks for sharing, would be nice if we could start to build a picture on here for people!

SoulMateDestiny · 04/04/2021 04:55

If anyone wants to see the link, I'm really worried about putting it on here. PM me and I will send a link

I0NA · 04/04/2021 08:00

[quote ToastTriangles]@I0NA that is crazy, do you know if it was at a closing date and how many offers there were?[/quote]
They didn’t set a closing date because they received this very good offer and decided there was no point, as it was more than they expected to get at closing. I don’t know about any other offers.

I just hope that this purchaser can actually complete. Personally I would have asked for an offer that stated their solicitor had seen proof of funds. I’ve heard of so many sellers getting very high offers which then fall through and they have to put the house back on the market 6 weeks later.

A common issue is that they get a mortgage in principle but now they are on furlough and the lender won’t give the funds until they have a confirmed date to go back to work from their employer.

One estate agent told me that they were selling a 2 bed tenement flat at o/o 180 , home report value 200. They got dozens of enquiries the day it went on the market and had 19 viewings lined up for that weekend.

Then one person offered 250 ( before any viewings ) and the sellers accepted , against the advice of the agent. Needless to say, the prospective purchasers then wanted to view the property and when that was refused ( until missives were concluded ) they pulled out.

So it was just a tactic to stop anyone else viewing and presumably reduced the competition.

Then the estate agent then had to set up all the viewings again and of course some of them had now seen / had an offer accepted on another property and were no longer interested.

Original poster

Onebabyandamadcat · 04/04/2021 12:10

A house I'd love came back on the market last night. I was up during the night with my toddler and couldn't stop thinking about it. Went and knocked on their door this morning but they weren't in. I've left a note with my phone number telling them we're all sold, mortgage sorted and flexible with moving dates and asked them to contact me. Figured it was worth a shot. They'll either get in touch or they won't but I felt I wanted to do something to try and get in there early. May have lost my mind 🙈

OP posts:

I0NA · 04/04/2021 13:19

It’s worth a try @Onebabyandamadcat. Have you viewed it already and seen the home report ? Talk to the agent first thing tomorrow, ask why it’s back on the market and say you’d like to view it and get HR ( if you’ve not done so).

Do you know if it went to closing before? If so, they may not let you view it but will initially go back to those who were unsuccessful at closing .

If you have seen it already and want to make a verbal offer, they are legally obliged to pass that on to their client. So dont be put off by them.

You might have to be firm but polite.

newtoedinburgh · 04/04/2021 13:40

we are moving to Edinburgh this summer, as cash buyers we are seeing if we can buy before we arrive & therefore avoid renting. Can someone explain something to me... I am looking at a home report for a house we are keen on that is an "offers over", the "market value in present condition" in home report is over the offers over price (as you would expect) but not by much - 3 percent basically. Does anyone pay much attention to the market value when making offers over? I realise it is a very tight market as such little stock for family. houses in Edinburgh. The one I am referring to needs a lot of work but we could live in it.

newtoedinburgh · 04/04/2021 13:41

sorry if highjacking thread!

LoopyGremlin · 04/04/2021 14:09

@newtoedinburgh

we are moving to Edinburgh this summer, as cash buyers we are seeing if we can buy before we arrive & therefore avoid renting. Can someone explain something to me... I am looking at a home report for a house we are keen on that is an "offers over", the "market value in present condition" in home report is over the offers over price (as you would expect) but not by much - 3 percent basically. Does anyone pay much attention to the market value when making offers over? I realise it is a very tight market as such little stock for family. houses in Edinburgh. The one I am referring to needs a lot of work but we could live in it.

Unfortunately for many houses in desirable area of Edinburgh the offers over and home report value mean nothing. Houses are regularly going for more than 20% over the home report value. House in my area offers over £365 with a HR of £375 and being sold for £440k and that typical rather than unusual. The fact you are a cash buyer will help though. Where in Edinburgh are you looking and what style of house?

LoopyGremlin · 04/04/2021 14:12

And that’s for a small bungalow with work needed. The ones that have been modernised are more like £550.

newtoedinburgh · 04/04/2021 15:18

@LoopyGremlin thanks for that we are looking in trinity and also portobello.

LoopyGremlin · 04/04/2021 15:28

Portobello is my area. The example above was for a bungalow in the area. Another one was offers over £350k and it went for £462, 255. They also sell within a week so be quick in terms of viewings and offers. Your solicitor will be able to advise you of what offer might be appropriate. It’s a great place to live, hence the competition. Good luck and hope we can welcome you to the area!

newtoedinburgh · 04/04/2021 15:32

@loopygremlin there was a house in portobello that went up 2 weeks ago that had 80 viewings - shiiiiiiiit. What is driving it do you think? Lack of stock?

LoopyGremlin · 04/04/2021 15:46

Lack of stock and a very desirable place to live. You are minutes from the beach but only a short bus trip away from town centre. Prices here are now insane.

Original poster

Onebabyandamadcat · 04/04/2021 22:03

@I0NA

It’s worth a try *@Onebabyandamadcat*. Have you viewed it already and seen the home report ? Talk to the agent first thing tomorrow, ask why it’s back on the market and say you’d like to view it and get HR ( if you’ve not done so).

Do you know if it went to closing before? If so, they may not let you view it but will initially go back to those who were unsuccessful at closing .

If you have seen it already and want to make a verbal offer, they are legally obliged to pass that on to their client. So dont be put off by them.

You might have to be firm but polite.

I'm going to speak to the agent tomorrow. Was just hoping to get ahead a wee bit. It's a house in an area where houses are never on sale so I know it'll get a load of interest. Was hoping it was maybe their chain that had collapsed and they wanted a quick sale which would be in my favour. I'll see what happens 🤷

OP posts:

ToastTriangles · 05/04/2021 20:12

@Onebabyandamadcat how did you get on today? Any word back on the house?

Original poster

Onebabyandamadcat · 05/04/2021 21:01

Went to view it today. Going to put an offer in just need to keep.our fingers crossed

OP posts:

ToastTriangles · 05/04/2021 22:19

That's great. I'll keep my fingers crossed for you too!

Stroma · 06/04/2021 09:03

Morning all. Joining the conversation to add Morayshire and Dundee into the mix. I'm moving my mum down to Dundee and her house goes on the market in the next week or so. The surveyor was in yesterday to do the Home Report and the photographer goes in this morning. Keeping everything crossed for a quick sale. It's not even worth looking in the areas we want just now because the good houses are going within days.

I0NA · 06/04/2021 09:38

@Onebabyandamadcat - in your situation I’d put in a verbal offer now to the estate agent ( as in 930am Tuesday) and tell them that if they accept by 5pm today they will have a written offer on their desk first thing tomorrow morning .

Then email your solicitor telling her this and enclose a copy of the HR. You want to look decisive.

Make sure you offer is a good one because you only get to do this once.

elscar · 06/04/2021 09:40

@Onebabyandamadcat

Ooh good luck with your offer!

We are progressing (I think) with our sale and purchase- nee home won't be ready for another few months but the builder wants missives signed by end of April bug solicitor has advised (rightly!) not to sign until buyers have progressed. It's a bit unnerving as you have no idea how it's going on their side! Have they had their mortgage application accepted etc etc

Fingers crossed no news is good news!

Decluttering is under way and listed lots of things on eBay yesterday to streamline what we have to pack!