Have you bought a house recently at closing date?

[Lexi334]

We have one coming up. Love the house. Small about of work needs done now so need to hold back some of our budget for that. Have no idea what percentage to offer over though!

if you’ve bought recently at a closing date could you tell me what percentage over the HR value you offered? A rough idea of what area you’re in may also be helpful!!

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Friend 15% over HR in west end Glasgow
Me 10% over HR in private sale in Milngavie.
Solicitor thought it was a bargain, me less so.

Thanks @17to35 ! We’re in a small town on the west coast and plenty of houses here have sold for 20+% over HR value. But some going for around 10% over. Struggling to know how much cash to throw at the situation 😓

My friend was a young ftb who had many failures under his belt. Some properties he lost out on were going for ridiculous prices. This one was an ex rental in good condition but not as "done" as many on the market. He viewed really early and offered 15% over straight away. The owner talked him up another £3000 which he accepted.
Some minor updates and he is delighted. I'm think he bought well.
My only comment is to go with a local solicitor and take their advice. Do you have local knowledge of property coming onto the market? Use this and get in there early, if you can.

I think the only advice is to go with what you can afford and would be happy to pay. Don’t think you can second guess what the other offers will
be. Around me things go for anywhere between 10 and 40% over (Edinburgh) which is just crazy. Good luck!

Bungalow in Edinburgh offers over about £575....went for about £800k needed loads doing to it.

Sounds about right. No idea how young people or those on low wages can ever buy in Edinburgh.

Don't go 10 or 15% go 13 or 17% over its these differences that get you the house.

Thanks for your replies! Haven’t had the chance to update until now.
We got the house 🥳 12% over! From what has been suggested, not the highest bid that was entered but we sold up and went into rented to make us chain free and that’s what appealed to the seller 👍🏻

Congratulations! I was about to say we bought a few months ago, small town on west coast. Same as you, renting so chain free and got it for 11% over home report value at closing date. Now wondering if it's the same small town!

🤣 that’s funny!! Could very well be! Where are you? We’re with the vikings and ice cream 😊🤣

Haha snap!

@sandie412 Thats hilarious!! Small world!! Hope you’ve managed to get in and settled in your new house!