Property buying. Any advice really appreciated.

[SamLane]

Hello there,
We are looking to buy in Glasgow. Preferably Shawlands or surrounding.
As we currently live in England, the system is new to us. I've read some legal documents on gov. but really need some on the ground practical and up to date advice.
I know that property offers are over the price advertised.

• How much over is this do we offer? ( wanting the best price we can, but not to offend or waste time and effort)

• Is property selling quickly with lots of offers at the minute?

We have never owned a flat, but know that most here would be leasehold and have a service charge each month.

• Are all of the tenement blocks freehold? Who pays for any maintenance to the stairwells etc? What happens if say the roof needs fixing?

A local solicitor would give you advice on how much over, but till recently it was around 10% over. That has changed dramatically in recent months though. 3 years ago we bought at under the home report valuation, but even then our solicitor said we'd been lucky.

also, it's the home report value you need to think about. Get a copy of the home report of anything you are interested in.

yes, all freehold. All costs are shared. Doubly important to be aware of anything in the home report, which is very detailed.

Thank you @OzonoffS.

So we would view some properties and ask for the homebuyer report on each, on which to base an offer, given 10% and risk around the homebuyer report.

We would make an offer through a solicitor.

Is the buyer usually the person who offers the most - sometimes in England a ‘good position’ occasionally means the largest bid isn't chosen.

Just re-read - given at least 10%.

Quite hard to know how to pitch an offer.

You don't even need to view it first. If you see somewhere you might be interested in, request the Home Report (usually just by clicking on a button on the estate agent's website) and read it before you waste any time.

It's very hard to know how to pitch, which is why I'd suggest finding a reputable local solicitor who sells enough volume to give you a steer. Also though, have a look through Scotsnet - this is a regular thread topic.

But you might be cheeky and get lucky. Our flat had had three sales fall through for various reasons unrelated to the actual property. Home Report value was £400k, it was on at offers over £380k, and we got it for £360k. We knew the seller just needed it sold, so took a chance and were very lucky.

DB on the other hand had no chain, mortgage offer in place, offered 20% over on the house of his dreams, and missed out.

You should use a local solicitor who knows the local market and they can advise you on how much to offer. Recently its been about 20 per cent over the home report value ( not the offers over price).

You need to have a mortgage in place and be ready to move into the property in about 6-8 weeks. If your offer is dependent on you selling inEngland then no one will touch you. In fact most estate agents wont even let you view a property. They have plenty proceedable buyers lined up.

Your lender will only lend a percentage of the HR value, not what you actually pay. So you need to have cash to fund that plus your deposit, tax and transaction costs.

If you see something you like, ask your solicitor too submit a note of interest straight away. Once the agent has several notes, they will advise their client to set a closing date. That will be the case with most desirable properties in Shawlands. You will have an idea how much to offer once you know how many notes there are.

At closing, your solicitor will submit your “ best and final “ offer by a certain time and date. The seller can accept any offer she wants, if doesn’t have to be the highest.

Once your offer is accepted you will NOT be able to view the property again until missives are are concluded. If you pull out after this, you will be liable for the other parties costs ( not just legal costs ). You also cant negotiate by then on the price or anything else apart from the entry date.

Let me emphasise this - if you piss around your seller your name will be mud in the area - all the agents know each other - so don't even think about doing this.
Lots of things that are considered normal when buying a house in England are either illegal or VERY BAD practice here. So listen to your solicitor.

You should check Rightmove etc several times a day and get the HR right away. Phone up and ask to view asap. Track each property you like to see how quickly it sells. Check here to see sold prices

scotlis.ros.gov.uk/

@OzonoffS & @0live

Thank you so much for such detailed support and information.

I do have a good understanding of the process in England ( my parents were estate agents) so I do hear of the messing about that happens and the distress caused. That is just not me, I’d like to think I'm fair and moral!

This would be a cash purchase, not dependent on a sale, fortunately, it sounds!

I hadn't realized that I can request the homebuyers report this early in the process something I will do if a property is of interest.

One question, would an offer be accepted without a viewing in person? I have a family member that could do this for me....and show me virtually.. i know big gamble....but I'm not sure we can view quickly enough or repeatedly.

That seems practical but you'd want
the seller's solicitor and/or estate agent to be
fully on board.

Yes get the home report before even viewing so you can decide if it's worth your while. Especially if you're having to travel up for viewings.

Word of warning, stuff is selling for crazy amounts over home report value. My friend just paid 26% over for a 2 bed flat in Shawlands that needed work 😬

There’s nothing legally to stop you making an offer on a property that you have not seen. But most agents will strongly advise their clients not to accept, because their experience is that people who do this often pull out.

If you make an offer on a property and it’s accepted, you will NOT be allowed to view it until missives are concluded ie you are legally bound to go ahead with the sale. So its a pretty bas idea TBH, you would be buying blind ( apart from the HR).

If you saw something ( virtually ) that you liked, you can ask your solicitor to submit a note of interest and then go up to see it. Usually there will be at least 7-10 days before a closing date, so you would have time to come to Scotland and view it yourselves.

Of course any seller can accept an offer at any time from anyone. But its pretty rare to set a closing date and then accept an offer.

Why don’t you just rent somewhere in Glasgow for 6 months and then you will be able to get to know the area and the streets/ blocks that you like? It’s not easy to rent either but at least you are only making a short term commitment. If you hate it you can just move out as soon as you find another rental.

Buying a property that’s not right for you because you were in a rush is a pretty expensive mistake.

Why don’t you just rent somewhere in Glasgow for 6 months and then you will be able to get to know the area and the streets/ blocks that you like?

I would suggest this too. The housing market is very different up here and I think it would feel more comfortable if you were doing it in person. Flats in Shawlands and nearby can sell in a couple of weeks.

Who pays for any maintenance to the stairwells etc? What happens if say the roof needs fixing?

www.glasgow.gov.uk/index.aspx?articleid=18346

Most tenements will have a factor.

I’d also recommend renting in the area. You might not realise, but there is no fixed or minimum term for private rentals in Scotland. So you give your landlord 28days’ notice at any time, once you know the timescales of your purchase.
Living locally and able to view properties quickly will put you at an advantage.
Set up an alert on Rightmove with your search criteria.
Different flat types have different appeal, but to secure a purchase, be prepared to go as much as 20% over HRV.
State you are a cash buyer and chain free, and you may be accepted even if you aren’t the highest offer.
Most tenements have factors who arrange repairs and common buildings insurance. They charge a monthly fee plus shared cost of repairs. Some factors are fine, others next to useless, they vary so much. Also check out neighbours in the block (look out for HMO landlord-owned flats in the block and the maintenance of common areas can be telling).
Good luck, Shawlands is lovely!

Your solicitor should be able to advise on what the going rate it, the area, how long on the market etc.

Unless it is a closing date you can make further offers. And sometimes the seller might counter offer.

I’ve just posted a similar thread 😂 will read this for info - Glasgow is a fantastic city - with loads of us from England flocking to it.

If you are looking at tenement flats in Shawlands you will need to allow about £1,000 - £1,2000 / year for factors fees. Typically that includes your share of buildings insurance, stair cleaning and lighting. Garden maintenance and any building repairs and maintenance will be on top of that.

I would also look closely at the communal areas of the building -do they loook well maintained etc.Try and find out if work has been done recently and if owners in the close generally agree to pay for repairs. While.most tenement blocks are indeed factored,it doesn't always mean that repairs to communal areas,including the roof get done. This still requires agreement from all owners in the close and failure for this to happen is the cause of many of Glasgow's tenement blocks falling into disrepair. Check out the website Under One Roof to familiarise yourself with how repairs work in tenements.

Thank you for keeping posting PP’s. I've just read my first home report, a flat for sale at £145000, home buyers £165000. Feels early for us to offer, we've more to learn!

‘Factor’ is a new word for me! This is listed for the flat per month and against service charges here, really reasonable.

How much does it cost to engage the solicitor to act on our behalf with offers? This will be a cost each time we decide to offer? - assuming we do not get the first flat we offer on.

If the HR is 165 they will be looking for at least 180, more if it’s a popular street.

If it’s the one on Deanston Drive then you need to be aware its above a commercial property, which affects resale as some lenders won’t lend on it.

It’s shops and not a pub / hit food carry out which is much more of a problem .

Many solicitors will offer a fixed fee for the conveyancing plus outlays, it will vary depending on the value the property. Perhaps around 800 -1000 but you’d need to get some quotes. Remember LBTT ( you pay this to the solicitor ).

Usually they don’t charge you for unsucessful offers but they might if you make a lot ( or if you are messing about ).

Thanks for more information!

No it isn't Deanston. I wouldn't be interested above commercial, that is the same here with mortgage lenders not willing to lend and insurance being high too.

If it’s Camphill Ave it’s very quiet down there and there’s parking, which is often a problem in Shawlands. And it’s v near Langside station if you need to get into town.

Of course you don’t get the high ceilings of a tenement flat , but it will be easier to heat.

here’s a list of recent sold prices for that postcode.

scotlis.ros.gov.uk/results?postcode=G41+3AS&searchType=prices&sortBy=entryDate&sortDir=desc