Offer on property.

[TinyHighlander]

You’re right in terms of paying over - expect to pay well over asking for anywhere within a stone’s throw of Jordanhill. Knightswood is probably a little less overpriced, but Anniesland, Scotstoun etc is still just getting pricier as they gentrify it, and any further east and you’re starting to get into Studentville. Your best bet would be to see what has been sold recently and for how much over, and maybe speak to local property offices about any offers on properties you’re interested in.

Thank you so much for the response. I’m actually not familiar with some areas of Glasgow but have been looking at properties for a long time and roughly guesstimating what I would need to put down, how much I would be left with after mortgage, bills etc.

My brother lived in the East and it was really nice however with where I’m hoping to eventually end up working- I don’t want to have a commute via the train/bus any longer than 40 minutes, especially since I would need to be at work for around 6.45-7am roughly. Hence the west being appealing!

Thank you for the advice again. Will make some notes on several of the areas just to have a rough idea of what’s expected. All the areas you have mentioned are all areas I’ve been mainly focusing on.

 

[Kim Mild]

I recently sold my late parents property and I listed it as soon as estate agents opened after lockdown . They told me I'd likely get 90-92% of the asking price, it sold for 96%.
We are buying a property ourselves, I was talking to the agent we used to sell and they advised to offer 10k less but I offered 5k less because I didn't want them to get a better offer, our seller would only accept asking price so we offered that as it was within budget and we need to move somewhere more suitable.

This is all recent, since the stamp duty freeze. I'm in the north east. Houses seem to sell quite quickly and asking prices have increased since lockdown.

 

[Rippedjeanmaybe]

Oh wow! Was he desperate to get out like divorce?

No, it was a couple that were moving together with their child. The house wasn’t worth more than 80k and they knew they were being cheeky by asking so much and they knew they were pushing their luck. We were the first offer they’d had since they put their house on the market a year prior, so in the end they relented and sold us the house.

 

[Lulu Goss]

Offer: £380k
Asking: £400k
Year: 2020
Area: London
Chain/no chain/FTB: we were selling our previous property but there was no chain on our new house as it was empty

 

[Fizzwhizz2020]

Mine was a new build and was on at £315k, I offered £295k and got it. It’s in the South East. Always make an offer as you can always increase if need be

 

[TinyHighlander]

Can someone please enlighten me about property in the West Glasgow area
Hoping to buy in two years time (first time buyer) probably in Knightswood area or anywhere on one of the west train lines for easy access into the City for commuting. I assumed when it states online (offers over) it would be minimum a few thousand over this?
Is it best to look at property in the area you wish to buy and make note of how much it sells for in comparison to what it is advertised as online?
You can tell I’m a complete novice!!
Many thanks (Hoping to buy in Glasgow as Edinburgh is extortionate in comparison).

 

[bubbadabut]

Can't remember figures now but both times we've bought houses we've offered the asking price, no messing about. Second time round the house we wanted was highly sought after, 17th century farmhouse and we knew we had a lot of competition but the competitors didn't have buyers for their houses yet. We hadn't sold our current house either but didn't want to lose out so we offered the asking price, got it accepted straight away and we rented out our other house until it finally sold about a year later. That was 8 years ago, in Yorkshire.

 

[Pixipoppy]

I am pretty sure that 90% of us have huge mortgage

Maybe! At least you’re paying into a house you own and not lining landlords pockets like me though!

 

[jaymie]

Hi! I am very interested to know how much you guys offer for your house (property) and how much the asking price was. And what year was it and area. Sorry if this sounds nosy, we are in the midst of buying in South East and we both moved to the UK 10 years back, sadly we don’t really have friends and family to ask this question.

Perhaps something like this?

Offer:
Asking:
Year:
Area:
Chain/no chain/FTB:

 

[JoeBloggs]

Offer: £325k
Asking: £325k
Year: 2017
Area: Surrey, SE
Chain/no chain/FTB: We were FTB and they were selling with no ongoing chain.

It took 3 months but we had complications their side as the owner had taken out an equity release policy and needed documentation to avoid fees.

We love our house and after a full renovation costing £18k we’ve added £100k to it. I work in property in the SE so happy to help if I can.

 

[ClockworkDolly]

Hi! I am very interested to know how much you guys offer for your house (property) and how much the asking price was. And what year was it and area. Sorry if this sounds nosy, we are in the midst of buying in South East and we both moved to the UK 10 years back, sadly we don’t really have friends and family to ask this question.

Perhaps something like this?

Offer:
Asking:
Year:
Area:
Chain/no chain/FTB:

Where abouts are you looking to buy in the South East?

Are you looking on rightmove?

 

[NoHintOfDrama]

Offer: £278,000
Asking: £280,000
Year: 2008
Area: Suburban east London
Chain/no chain/FTB: chain both sides

 

[Macmama]

Offer: £405k
Asking: £390k
Year: 2014
Area: Central Scotland (it’s a nice area in a city with a very good school, so I actually think we got let off lightly on how much above the asking we paid)
Chain/no chain/FTB: Our first house together, so both of us had properties to sell. Double chain

 

[jaymie]

Offer: £278,000
Asking: £280,000
Year: 2008
Area: Suburban east London
Chain/no chain/FTB: chain both sides

I got me thinking if it is the one that starts with W

 

[Kim Mild]

You can just watch a few episodes of Location, Location, Location and you'll soon get the gist of how to offer under the asking price. It's really not rocket science. My first house was on for £60,000. I offered £52,000. Bought it for £55,000. Bottom line is if you want the house enough, you'll pay whatever the seller wants.

And the system is completely different in Scotland - it's either fixed price (rare) or offers over - therefore adding nothing to this debate if it is about how to offer under the asking price.

So I still don't get the point of this thread

Curiosity maybe?

I think lower cost properties are probably more likely to sell for the asking price as people can probably afford them . They will negotiate with a lower offer on a more costly property to get it into budget.

We looked at a house that was offers over 150k and offered that, so did 3 other viewers. Agents say seller wants more than 165k for it . I don't understand why they didn't just ask that then ( we are in England) . I bet if there was no interest they would have took the 150k as that was likely plenty to cover the mortgage.

 

[tarquin16]

Offer: £285k three bed semi detached
Asking: £285k
Year: 2017
Area: SE

At the time the local property market was booming and houses were going for over the asking price regularly. 2018/19 would probably have paid £275k however so it all depends on what the market is like at the time. With the stamp duty holiday at the moment houses seem to be selling very quickly for close to if not full asking price, but not sure what it will be like in the summer.

 

[jaymie]

We offered: 82.5k
Asking price: 89k
Year: 2017
Area: North West

the owners who we bought from had bought during the recession and they had paid 95k, but the house was worth no where near that when we bought due to decreases in house prices and due the house being a mess.

Oh wow! Was he desperate to get out like divorce?

 

[Shaunaftw]

Asking price started at 140k in 2014, dropped to 120k in 2016
We bought it for 115k in 2017 (did us right over with the amount of work it's eventually needed )
Three bed detached house in Carmarthenshire
After a full reno I'd say we are close to 175k with the way the current market around here is!

 

[MissTeddy]

2015
South East
asking price - £500k
offered £475k

genuinely didn’t think they‘d accept and i was prepared to go higher as I loved the house.
when they accepted I did a little dance of joy!

 

[Barbie2020]

Offer: £155k
Asking: £155k
Year: 2017
Area: Sheffield
Chain/no chain/FTB: No chain. The houses in our area actually go for around 50k more but our house needed/still needs a lot of work doing. We got lucky as we live in a really nice area as well.

I would have no chance of buying if we lived in the South