Estate agents - making an offer during lockdown

[H18 SFR]

We put our property on the market the day before the lockdown, managed to get a note of interest that day.

Whilst we don’t have a crystal ball re what will happen with selling it after lockdown, we are prepared to take a bit of a hit if needs must in order to sell it - we consider that we are going to be realistic with the sale price. For the following reason, we only put it on the market to have a go at getting a house we consider to be our ‘forever home’.

The forever home has us and one other interested party - it needs an absolute gutting, totally modernised.

We phoned the selling agent today (they are also selling our home) to discuss if the vendor would be willing to consider a serious offer, she seemed really reluctant to even ask the vendor, encouraging us to wait and see. The funny thing is that even during these times of uncertainty we are (trying not to swear here) willing to offer over home report value.

Does anyone think it might be worth while submitting a formal offer? I know that there is one other note of interest but what’s the worst that can happen? We end up in competition with one other buyer rather than waiting till 4 or 5 weeks after lockdown and be in competition with more potential buyers?

Would appreciate some observations or advice.

[Barney McGrew]

I can’t see that it would do any harm - the worst they can say is no!

[Hibby Bairn]

We sold our very first flat about 30 years ago with a "gentleman's agreement" between one of our viewers and us. On a viewing evening he asked to speak after everyone left. The couple asked what we were looking for and we gave the usual whatever the highest offer is etc. But then we just gave them a figure that we would be very happy to accept and the following day they submited a formal offer with a 24 hours expiry on it. We accepted. Deal done.

Solicitors can sometimes get in the way (other than for the legal stuff). I would think it is very much a buyers market out there so why not just make contact with the sellers directly and see what they say.

[H18 SFR]

Made an offer troops.

Keep you posted, cross everything.

[McSwanky]

Made an offer troops.

Keep you posted, cross everything.

Good luck! Nothing ventured and all that!

[JeMeSouviens]

Made an offer troops.

Keep you posted, cross everything.

Good luck. Hope you are ok if you can't sell your own place though? I guess you might have to bridge for a bit if the market is generally stalled.

[H18 SFR]

Good luck. Hope you are ok if you can't sell your own place though? I guess you might have to bridge for a bit if the market is generally stalled.

Yeah it is a bit of a concern but we weighed up that vs the disappointment of not at least trying to have an attempt at getting the house we really want.

Nothing ventured nothing gained and all that.

[greenlex]

I never quite made it. Home report carried out on my property literally hours before the lockdown. Now in limbo. Good luck.

[woodythehibee]

I work as a solicitor in Leith and have submitted 4/5 offers in the last 7 days for clients. Very unexpected but a good chance to buy a property closer to valuation due to lack of competition and uncertainty.

[pollution]

We put our property on the market the day before the lockdown, managed to get a note of interest that day.

Whilst we don’t have a crystal ball re what will happen with selling it after lockdown, we are prepared to take a bit of a hit if needs must in order to sell it - we consider that we are going to be realistic with the sale price. For the following reason, we only put it on the market to have a go at getting a house we consider to be our ‘forever home’.

The forever home has us and one other interested party - it needs an absolute gutting, totally modernised.

We phoned the selling agent today (they are also selling our home) to discuss if the vendor would be willing to consider a serious offer, she seemed really reluctant to even ask the vendor, encouraging us to wait and see. The funny thing is that even during these times of uncertainty we are (trying not to swear here) willing to offer over home report value.

Does anyone think it might be worth while submitting a formal offer? I know that there is one other note of interest but what’s the worst that can happen? We end up in competition with one other buyer rather than waiting till 4 or 5 weeks after lockdown and be in competition with more potential buyers?

Would appreciate some observations or advice.


How are they selling both homes? A conflict of interest surely. Why would you selling agent not act on your instructions, preferring you to wait.

They are on a double commission here. Unless I have misunderstood.

[H18 SFR]

How are they selling both homes? A conflict of interest surely. Why would you selling agent not act on your instructions, preferring you to wait.

They are on a double commission here. Unless I have misunderstood.

Both my property and the property I wish to purchase are being sold with the same Estate Agent - it just so happened that the one we like is marketed by the same selling agent.

We have instructed an alternative solicitor to offer on our behalf.

[pollution]

Both my property and the property I wish to purchase are being sold with the same Estate Agent - it just so happened that the one we like is marketed by the same selling agent.

We have instructed an alternative solicitor to offer on our behalf.

Ok that makes sense ! Good luck and keep us posted. I sold my flat a couple of years ago and keep an interest in the market.

[H18 SFR]

Ok that makes sense ! Good luck and keep us posted. I sold my flat a couple of years ago and keep an interest in the market.

Cheers mate, fingers crossed.

[Ozyhibby]

I was just putting the finishing touches on a flat to put on the market when the lockdown started. I now don’t really know what to do. I think I’ll still put it on and hope I get lucky. No idea what the market will look like at the end of this.


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[Hibby Bairn]

I work as a solicitor in Leith and have submitted 4/5 offers in the last 7 days for clients. Very unexpected but a good chance to buy a property closer to valuation due to lack of competition and uncertainty.

How do you see things going over the next few months? Properties under valuation? Fixed prices?

How are people viewing properties just now?

[H18 SFR]

How do you see things going over the next few months? Properties under valuation? Fixed prices?

How are people viewing properties just now?

I asked my solicitor these questions today and she said she simply didn't know at this time.

[Danderhall Hibs]

We sold our very first flat about 30 years ago with a "gentleman's agreement" between one of our viewers and us. On a viewing evening he asked to speak after everyone left. The couple asked what we were looking for and we gave the usual whatever the highest offer is etc. But then we just gave them a figure that we would be very happy to accept and the following day they submited a formal offer with a 24 hours expiry on it. We accepted. Deal done.

Solicitors can sometimes get in the way (other than for the legal stuff). I would think it is very much a buyers market out there so why not just make contact with the sellers directly and see what they say.

They definitely do/can get in the way.

The house I bought back in 2003 - we viewed it on the day it went on the market, the guy wanted to shift it (it was inheritance) so I asked how much, he told me - I phoned the lawyer and she said he won’t accept an offer that low, I had to say he told me what he wanted and I want the offer to be submitted despite her resistance. Eventually she done it and the offer was accepted within an hour or 2.

No idea why she was so hesitant.

[H18 SFR]

Still no response from the selling agents re our offer, I wonder if they are giving it serious consideration or so offended that they won't reply.

[H18 SFR]

Literally 5 mins after I posted our solicitor phoned.

They are going to contact the other note of interest(s) to see if they intend to bid at a closing date.

On Tuesday we were informed that there was our note of interest and one other, they're saying that there are three notes of interest now.

[pollution]

Literally 5 mins after I posted our solicitor phoned.

They are going to contact the other note of interest(s) to see if they intend to bid at a closing date.

On Tuesday we were informed that there was our note of interest and one other, they're saying that there are three notes of interest now.

It must be an attractive property to have that many notes of interest.

Good luck.

[H18 SFR]

Our offer has been rejected, they contacted the other two notes of interest who intimated that they also want to bid...however, the selling agent has advised that they will not set a closing date.

The property is part of a deceased person's estate and he has children from two different marriages and it is 'complicated'. No confirmation but suggestions one of the interested parties is possibly one ofthe deceased person's children.

[Mon Dieu4]

Our offer has been rejected, they contacted the other two notes of interest who intimated that they also want to bid...however, the selling agent has advised that they will not set a closing date.

The property is part of a deceased person's estate and he has children from two different marriages and it is 'complicated'. No confirmation but suggestions one of the interested parties is possibly one ofthe deceased person's children.



Deceased sales can be tricky, same thing happened when my dad was selling my Grandparents house

My Dad wanted to sell it to the second highest bidder as he really liked them, they had a young kid and it would have been a family home, but my ******** uncle insisted that they sell it to the highest bidder(£500 more) when split 3 ways he was getting an extra £140 or so after tax

They can work though, I bought my house under similar circumstances, caught wind it was going to be up for sale and managed to have a word with the executor, they were more than happy to do a private sale with me, afterwards I found out another neighbour of mine had offered a couple of grand more than me and was going to rent the place out, the executor fortunately fell for my charm offensive and decided she liked the fact I was going to live in it

You have done all you can for now, just need to keep yourself in the loop of what is going on, good luck

[H18 SFR]

Deceased sales can be tricky, same thing happened when my dad was selling my Grandparents house

My Dad wanted to sell it to the second highest bidder as he really liked them, they had a young kid and it would have been a family home, but my ******** uncle insisted that they sell it to the highest bidder(£500 more) when split 3 ways he was getting an extra £140 or so after tax

They can work though, I bought my house under similar circumstances, caught wind it was going to be up for sale and managed to have a word with the executor, they were more than happy to do a private sale with me, afterwards I found out another neighbour of mine had offered a couple of grand more than me and was going to rent the place out, the executor fortunately fell for my charm offensive and decided she liked the fact I was going to live in it

You have done all you can for now, just need to keep yourself in the loop of what is going on, good luck


Yeah just need to sit tight now, we've played the bid during lockdown card, now just need to wait and see.

[Andy Bee]

I put a bid in on a house in similar circumstances a few months ago, despite bidding nearly £30k more I lost out to a cash buyer, cash is really king at the moment in property sales especially estate sales when the seller/s don't have any worries of completing on another house that they're looking to buy.

[Speedy]

Literally 5 mins after I posted our solicitor phoned.

They are going to contact the other note of interest(s) to see if they intend to bid at a closing date.

On Tuesday we were informed that there was our note of interest and one other, they're saying that there are three notes of interest now.

I didn't realise they had details of the other interested parties.

[H18 SFR]

I didn't realise they had details of the other interested parties.

The selling agents contacted the parties who had lodged a note of interest with them.

They would have to have that information otherwise there would be no point noting interest and nothing would sell.

[pollution]

Put it down to experience , it was not meant to be.

Their advisor must be confident that the market will return strongly.

Is your property for sale at the moment and if so is it o/o or at a fixed price?

[H18 SFR]

Put it down to experience , it was not meant to be.

Their advisor must be confident that the market will return strongly.

Is your property for sale at the moment and if so is it o/o or at a fixed price?

Went on a couple of days before the lockdown. We got one note of interest. Currently still O/O.

[Future17]

Deceased sales can be tricky, same thing happened when my dad was selling my Grandparents house

My Dad wanted to sell it to the second highest bidder as he really liked them, they had a young kid and it would have been a family home, but my ******** uncle insisted that they sell it to the highest bidder(£500 more) when split 3 ways he was getting an extra £140 or so after tax

They can work though, I bought my house under similar circumstances, caught wind it was going to be up for sale and managed to have a word with the executor, they were more than happy to do a private sale with me, afterwards I found out another neighbour of mine had offered a couple of grand more than me and was going to rent the place out, the executor fortunately fell for my charm offensive and decided she liked the fact I was going to live in it

You have done all you can for now, just need to keep yourself in the loop of what is going on, good luck

It's a risky business for an executor to do anything which could be interpreted as not maximising the return for the estate...provided there are other beneficiaries of course.

[Speedy]

The selling agents contacted the parties who had lodged a note of interest with them.

They would have to have that information otherwise there would be no point noting interest and nothing would sell.

I misread your post.

I knew the sellers had that information but I thought you meant your solicitor was contacting the other interested parties.

[Mon Dieu4]

It's a risky business for an executor to do anything which could be interpreted as not maximising the return for the estate...provided there are other beneficiaries of course.

There were 3 beneficiaries, 2 of which were perfectly happy to sell the property to the nice folk and the other one was being his usual ******** self

For my house the lady was sole beneficiary

[Future17]

There were 3 beneficiaries, 2 of which were perfectly happy to sell the property to the nice folk and the other one was being his usual ******** self

For my house the lady was sole beneficiary

Yeah, it happens and, for the sake of £140ish, it's ridiculous.

[H18 SFR]

Trying to get my head around the situation and what might happen this week if a closing date is set.

Everything I've read talks about a price correction following COVID and the impending economic damage.

With that in mind, do you think it would be crazy to go full home report value and then some or much more logical to say go a maximum of 5%(ish) under home report value?

[Hibby Bairn]

Trying to get my head around the situation and what might happen this week if a closing date is set.

Everything I've read talks about a price correction following COVID and the impending economic damage.

With that in mind, do you think it would be crazy to go full home report value and then some or much more logical to say go a maximum of 5%(ish) under home report value?

I’ve seen some “commentators” suggesting there will be a large price drop over the next few months. Driven by unemployment and resultant default in mortgage payments. Plus collapse of buy to rent with renters unable to keep up payments and younger renters returning home. Again result will be mortgage default.

In both cases property will be sold under security held by lenders or by owners desperate to get cash.

Buyers market for those with cash to spare.

[pollution]

Trying to get my head around the situation and what might happen this week if a closing date is set.

Everything I've read talks about a price correction following COVID and the impending economic damage.

With that in mind, do you think it would be crazy to go full home report value and then some or much more logical to say go a maximum of 5%(ish) under home report value?


Is the new property in a good area and if so will you be there for a while?

If the answer is yes I would go at the full home report price, leaving a bit more back in the unlikely case it goes to a closing date.

Even if the property were to fall by eg 5% you will more than recoup that in the next decade or so.

[Future17]

Trying to get my head around the situation and what might happen this week if a closing date is set.

Everything I've read talks about a price correction following COVID and the impending economic damage.

With that in mind, do you think it would be crazy to go full home report value and then some or much more logical to say go a maximum of 5%(ish) under home report value?

I think there's almost two different (but linked) considerations here:

1) "The market" (and therefore prices) will always be predominantly driven by demand. We're not in enough of a slump (at least yet) to have a significant effect on demand to the point of affecting prices. This can be shown by the multiple notes of interest in the property. Based on this, there's no real reason to expect that the property will sell for less than it would have sold for prior to the pandemic.

2) If you really want the property (as you've said), then I assume you plan to own it for a significant period of time. Over that period of time, it's likely that property values will fluctuate up and down, to the point that the difference between what you paid for it and what you subsequently come to guess you might have gotten it for will become practically meaningless.

On a side note, the system allowing the digital registration of deeds opened today.

[RyeSloan]

Trying to get my head around the situation and what might happen this week if a closing date is set.

Everything I've read talks about a price correction following COVID and the impending economic damage.

With that in mind, do you think it would be crazy to go full home report value and then some or much more logical to say go a maximum of 5%(ish) under home report value?

Ahh always a tricky one and feel you pain re this conundrum.

But also worth stepping back and thinking what it’s worth to you rather than what it has been valued at.

If it’s 100% the property you want, know you will stay there (all things being equal!) for a good number of years and really you are not going to find a better match than this then who cares if the market goes down some after you buy it...

Also if you hold off and values do go down you might find it’s then affordable for a few more folk and face greater competition.

On the other hand over paying is not what you want to be doing!!

OK I’m not really helping ;-)

But I suppose my main point is there is wider considerations to the price you might pay and focussing solely on the percentages above or below the current home report value is only one of them so don’t let it be the be all and end all.

Good luck with whatever you decide and in the end of the day if you get it, get in and are happy in a home you can afford then the job will have been a good one no matter the current value the market puts on it on any given day. [emoji736]

[H18 SFR]

Still no word from the sellers regarding our offer or a closing date.

The estate agents did send a courtesy email to say that they hope to hear soon.

[Hibby Bairn]

Still no word from the sellers regarding our offer or a closing date.

The estate agents did send a courtesy email to say that they hope to hear soon.

You could put an expiry on your offer.

[H18 SFR]

You could put an expiry on your offer.

That’s what my solicitor said was an option.

Increase it slightly with an expiry.

[H18 SFR]

#dailyupdate

My solicitor has just phoned me.

The selling side (6 children across two marriages) are having issues agreeing on the way forward regarding the sale.

Because of the issues, a senior partner of the solicitors they are using has taken control of the file and relieved the solicitor who was looking after it. By doing this they hope that he can focus minds and work with them to come to an agreement.

The official position remains the same. Our offer is neither rejected or accepted and the decision to set a closing date has not been made.

We were told we should get a further update later today.

[JeMeSouviens]

#dailyupdate

My solicitor has just phoned me.

The selling side (6 children across two marriages) are having issues agreeing on the way forward regarding the sale.

Because of the issues, a senior partner of the solicitors they are using has taken control of the file and relieved the solicitor who was looking after it. By doing this they hope that he can focus minds and work with them to come to an agreement.

The official position remains the same. Our offer is neither rejected or accepted and the decision to set a closing date has not been made.

We were told we should get a further update later today.

This seems like the ideal time to threaten to walk away? Edit - on 2nd thoughts that might just make the seller factions argue even more.

btw, I agree (I think if I understood it) with RyeSloan above - if you want the house, can afford it and will most likely live in it for a long time to come, then trying to guess a "right" time to buy is probably irrelevant. If you're getting it with no bidding competition then you will probably already be achieving a discount by not trying to outbid others. If it's still getting 3 notes of interest even in current conditions then it sounds like not a hard property to sell.

[H18 SFR]

As promised they got back to us officially.

Our offer has been rejected. Despite three interested parties wanting to offer they won’t be setting a closing date.

I asked if it would be worthwhile making another offer perhaps a couple of weeks after restrictions are lifted but was told to expect the same outcome.

Looks like this one will be a court order job to force a sale.

[speedy_gonzales]

As promised they got back to us officially.

Our offer has been rejected. Despite three interested parties wanting to offer they won’t be setting a closing date.

I asked if it would be worthwhile making another offer perhaps a couple of weeks after restrictions are lifted but was told to expect the same outcome.

Looks like this one will be a court order job to force a sale.
This must be really frustrating for you, but if the sellers are proving awkward now, you've maybe dodged a bullet.

It will be of little comfort to you, but I was chatting to a neighbour who works for Graham Sibbald at the weekend, he strongly feels there will be a cooling down in the market, maybe even a shrinkage once restrictions are lifted.
Many people who were in a position to move will not be once a prolonged loss of earnings and the restriction of lending are realised.
If (and it's a big if) that's the case, you may find yourself in a better position, obviously depends where you are if selling a property yourself,,,,

[McD]

As promised they got back to us officially.

Our offer has been rejected. Despite three interested parties wanting to offer they won’t be setting a closing date.

I asked if it would be worthwhile making another offer perhaps a couple of weeks after restrictions are lifted but was told to expect the same outcome.

Looks like this one will be a court order job to force a sale.



Don't want to give you false hope, when we put an offer in on our current house, it was initially rejected (we put an offer in after viewing, 3 days after it had went up for sale, making it clear we were making our best offer). the seller had delusions of selling it for far more than it was valued at as he'd had a few notes of interest, which was made clear by our estate agent/advisor, who felt we'd put in a very good offer (i suppose thats what he would say though hahaha), and that the seller was basically hoping/gambling that a much better offer would arrive. The seller himself had said he wanted a quick sale as moving abroad.

About 2 weeks later, our advisor phoned to say seller's estate agent had called to ask if we would consider resubmitting the offer (unofficially the selling estate agent had said that no other offers came in, and the home owner was coming back with his tail between his legs), so we ended up getting it for what we offered.

Fingers crossed for you mate

[RyeSloan]

Similar for me in the current house. Vendors rejected the offer and we moved on....after a couple of other efforts elsewhere we saw the original house hadn’t sold yet and went back over a month later with a very similar offer which was then accepted. Clearly a wee bit of time had adjusted their expectations which resulted in a different outcome second time around.

House buying is generally just an all round nightmare really and every situation is different so feeling your pain on this!

Personally I think they are nuts turning down an offer around home report value just now as I simply can’t see how the market will rise from here (you never know tho, I suppose there might be some pent up demand) so if I was the vendor I’d be thanking my lucky stars for a reasonable price and biting your hand off!

[H18 SFR]

We've moved our focus onto property number two on the shortlist, definitely sounding like a bullet dodging in terms of dealing with a disjointed family sale/executry.

[pollution]

You have dodged a bullet there ok.

Good luck looking elsewhere. Are you using the ESPC and Rightmove sites? The former solicitors sales the latter non solicitors.

I believe in Edinburgh solicitors account for 75% of property sales.

[H18 SFR]

You have dodged a bullet there ok.

Good luck looking elsewhere. Are you using the ESPC and Rightmove sites? The former solicitors sales the latter non solicitors.

I believe in Edinburgh solicitors account for 75% of property sales.

Yeah, using those.

Its exhausting looking, considering, offering, recovering etc etc etc.

[H18 SFR]

Moved onto property two on the shortlist folks. I was speaking to an Estate Agent yesterday about a property we liked that we didn’t manage to view before the lockdown. Since the first day of the lockdown they’ve taken enquires and have 17 parties wanting to view!

Focused our minds a little re the two properties we viewed multiple time. Whilst property one is gone now we will make an attempt at property two.

Offer submitted in the last hour.

[H18 SFR]

Can't believe what has happened today after yesterday, I will paraphrase to keep it short.

9am, onto the estate agents for property two on the shortlist expressing we'd like to offer.

9:30am negotiations start.

Lunchtime the tell us a figure what the want to remove property from the market (well the wife of the couple does)

12:45 offer for that amount submitted

3:30 offer completely rejected, the husband wants £25,000 more or hes not agreeing to sell. They are a couple that has split up and are divorcing.

The wife of the couple apologies unconditionally.

Time for us to take a step back until lockdown is over we feel. We did pick up the phone to offer £7,500 more but I think i've talked myself out of it.

Yesterday two sets of kids across two marriages falling out and acting defiantly to scupper a potential deal. Today two adults who are divorcing and needing a sale rejecting a very, very strong offer that they intimated was the magic figure to take it off the market.

[JeMeSouviens]

Can't believe what has happened today after yesterday, I will paraphrase to keep it short.

9am, onto the estate agents for property two on the shortlist expressing we'd like to offer.

9:30am negotiations start.

Lunchtime the tell us a figure what the want to remove property from the market (well the wife of the couple does)

12:45 offer for that amount submitted

3:30 offer completely rejected, the husband wants £25,000 more or hes not agreeing to sell. They are a couple that has split up and are divorcing.

The wife of the couple apologies unconditionally.

Time for us to take a step back until lockdown is over we feel. We did pick up the phone to offer £7,500 more but I think i've talked myself out of it.

Yesterday two sets of kids across two marriages falling out and acting defiantly to scupper a potential deal. Today two adults who are divorcing and needing a sale rejecting a very, very strong offer that they intimated was the magic figure to take it off the market.

You fairly pick your sellers don't you? :greengrin

Seriously, what a pita. Buying/selling is stressful enough without that sort of carry on.

[RyeSloan]

Can't believe what has happened today after yesterday, I will paraphrase to keep it short.

9am, onto the estate agents for property two on the shortlist expressing we'd like to offer.

9:30am negotiations start.

Lunchtime the tell us a figure what the want to remove property from the market (well the wife of the couple does)

12:45 offer for that amount submitted

3:30 offer completely rejected, the husband wants £25,000 more or hes not agreeing to sell. They are a couple that has split up and are divorcing.

The wife of the couple apologies unconditionally.

Time for us to take a step back until lockdown is over we feel. We did pick up the phone to offer £7,500 more but I think i've talked myself out of it.

Yesterday two sets of kids across two marriages falling out and acting defiantly to scupper a potential deal. Today two adults who are divorcing and needing a sale rejecting a very, very strong offer that they intimated was the magic figure to take it off the market.

Don’t stop trying! I’m enjoying your misery too much...it’s been quite gripping [emoji12]

Naa seriously what a pain! Maybe it is best to relax for a while for your own sanity even if it means my daily soap opera is no longer being aired [emoji106]

And you never know sometimes it’s darkest before dawn so something might just happen that changes the situation for ya!

[pollution]

Open a bottle of wine and forget about it for a while.

Is your own property currently for sale?

[H18 SFR]

Open a bottle of wine and forget about it for a while.

Is your own property currently for sale?

Yeah we have an offer on it but one half of the couple is furloughed so we were remaining cautious. Basically prepared in our mind that we would likely be looking for another buyer.

To be fair to them they were very up front and honest as soon as he was furloughed.

Wine is open!!

[Just_Jimmy]

The key to getting a house is always to get in and view the house with the seller. Try and build a rapport. Not easy but buying in Manchester was a flaming nightmare.

They had open weekends where you'd go and it would be some teenager just opening the door to let you see, no idea about the property. Loads of other people so falling over each other. Just a night mare.

We looked at loads and finally found one we liked, made an offer and he messed us around. I wanted to tell him to bolt right away but the Mrs really liked the house so I left it. I told the agent that he had until the following Monday to decide. This was 7 days.

I said to my Mrs that we Need to get in and meet the person selling. On the Wednesday the house 2 up from the one we offered on came up for a bit more. My Mrs phoned me at work in the morning to say and I said to her to ask if we could view. The agents said they didn't even have keys yet but contacted the seller and she said come and see it that afternoon and she'd just show us. So we did. We laid it on thick about being a young couple starting a family blah blah. We discussed it that night and we made an offer the next morning for full ask. I said to them to let it go to weekend viewings then decide cos it was fresh on. She agreed.

They phoned me for first house on Monday morning saying that they were still undecided, so I said we'd made an offer on a house we liked better so they had until we heard. The second house phoned us about half an hour later and said she wanted to take our offer and said we could close anytime which suited perfectly. I phoned the agents for house 1 back and said he'd messed us about too much and I was withdrawing. Which was so satisfying.

We completed on our house and moved in and house 1 was still on the market.

We ended up in the perfect house for us right now in a lovely area with cracking neighbours and we're both on 10 mins from work. It takes luck and nerve to get your property.



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[RyeSloan]

Did you ever have a wee spy at sold house prices to see what the first house eventually sold for?

[Just_Jimmy]

Did you ever have a wee spy at sold house prices to see what the first house eventually sold for?Less than we paid for ours but it needed a bit more work. Less than we offered too so petty me is happy.

Ours was valued since and with work we've done had gone up a fair bit in 2 years. No plans to move any time soon though.

I also believe houses are for living in firstly. All talk of profits etc is nonsense unless you are happy living in it. In the UK we need a fundamental shift in attitudes to property.

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[Future17]

Can't believe what has happened today after yesterday, I will paraphrase to keep it short.

9am, onto the estate agents for property two on the shortlist expressing we'd like to offer.

9:30am negotiations start.

Lunchtime the tell us a figure what the want to remove property from the market (well the wife of the couple does)

12:45 offer for that amount submitted

3:30 offer completely rejected, the husband wants £25,000 more or hes not agreeing to sell. They are a couple that has split up and are divorcing.

The wife of the couple apologies unconditionally.

Time for us to take a step back until lockdown is over we feel. We did pick up the phone to offer £7,500 more but I think i've talked myself out of it.

Yesterday two sets of kids across two marriages falling out and acting defiantly to scupper a potential deal. Today two adults who are divorcing and needing a sale rejecting a very, very strong offer that they intimated was the magic figure to take it off the market.

You'd be surprised how often things like this happen in these circumstances, although you've been really unlucky to encounter two instances of such circumstances (i.e. executry and divorce/separation) in the first two properties you've bid on

The divorce one is a nightmare and is unlikely to be resolved without a court order. Given the size of the differences in valuation between the parties, I would guess that:

1) The husband is still living in the property and doesn't want to move, and/or;

2) The wife has initiated the split and the husband wishes to punish her and prevent her moving on with her life.

The reality is that if both parties remain intransigent, it could take many months (if not years) to obtain a court order to force the sale. Things will be further complicated if there are children under 16 living in the property.

The executry one should be a lot easier as, ultimately, it's for the executor to decide what course of action will derive the best value for the estate (and consequently the beneficiaries); the views of beneficiaries who are not executors are essentially irrelevant, but understandably families tend to get caught up in minor disputes and trying to placate everyone.

Problems tend to arise when there is more than one executor, or when a solicitor, rather than a family member, is the executor. It's predominantly unrelated to the subject of this thread, but my advice to anyone making a Will would be to pick one executor only and make it someone you know personally (i.e. probably not a solicitor). It's wise to have a "whom failing" type clause in case the person you pick pre-deceases you, but it's best to avoid having more than one person sharing the role of executor.

Also try, where possible, to be clear with your loved ones about your wishes for your estate after you die. I know most of us don't like to have that type of conversation as - (a) we don't like talking about death and (b) we don't like talking about our money - but there's definitely a benefit in people knowing where they stand financially at the point of death, with regard to avoiding disputes after.

It sounds a bit morbid, but the points above are vital if you want your assets to go to your beneficiaries and not be swallowed up by legal fees.

[RyeSloan]

Less than we paid for ours but it needed a bit more work. Less than we offered too so petty me is happy.

Ours was valued since and with work we've done had gone up a fair bit in 2 years. No plans to move any time soon though.

I also believe houses are for living in firstly. All talk of profits etc is nonsense unless you are happy living in it. In the UK we need a fundamental shift in attitudes to property.

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Aha bet you had a wee wry grin to yourself when you saw that outcome [emoji38][emoji106]

[Just_Jimmy]

Aha bet you had a wee wry grin to yourself when you saw that outcome [emoji38][emoji106]Best part is the couple living in it now are brand new. Got a baby that's almost 6 months old and whilst we don't know them well they have so far been brilliant neighbours. The house in between is a lovely older couple and I get one pretty well with their son who is ages with me. All in all its turned out really well and I'm happy with where we are.

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[pollution]

Any update with your house hunt?

[H18 SFR]

Any update with your house hunt?

Just been laying low, happy to wait and see and ride out the lockdown.

[Bishop Hibee]

I sold my 3 bedroom flat on the Links in January but the flat I was meant to be buying fell through. Had an offer accepted on another property but then the lockdown happened. Stuck at my mums in Porty at present. The place I’m buying is owned by an old pal so we both put pressure on our solicitors to get the deal done and I now have an entry date of Friday 29th May. Can’t wait to get in and set about the renovations.

[H18 SFR]

I sold my 3 bedroom flat on the Links in January but the flat I was meant to be buying fell through. Had an offer accepted on another property but then the lockdown happened. Stuck at my mums in Porty at present. The place I’m buying is owned by an old pal so we both put pressure on our solicitors to get the deal done and I now have an entry date of Friday 29th May. Can’t wait to get in and set about the renovations.

Excellent news - delighted for you.

I had earmarked 6 weeks off over the summer to do renovations, obviously that won't happen now but hopefully when the lockdown lifts we will see more properties arriving on the market or I can revisit the two we offered on - that might be tricky though.

I noticed a press release thing via the ESPC that the had canvassed selling agent and that they all replied that they have properties ready to enter the market after restrictions are lifted.

[H18 SFR]

https://www.bbc.co.uk/news/business-52640696

I wonder if we will follow shortly?

[pollution]

https://www.bbc.co.uk/news/business-52640696

I wonder if we will follow shortly?


I would have hoped so. From what I can say, the Scottish market is ready to resume, subject to permission.

[H18 SFR]

Cmon Nicola, release the chains!

[H18 SFR]

Decided to stay put until at least 2021 - going to tie in the mortgage.

I would just like to offer a heartfelt apology to every contributor to this thread - I've wasted everyone's time.

That aside, every single property blog, housing market commentator, financial guru etc is now starting to suggest that with a deep recession, high levels of unemployment etc that property values will drop. Initially the prediction seemed to be that they would perhaps recover in around a year but everything I'm now reading predicts between 10-20% drops in value. That could wipe £72,000 of equity off a property at the top of our affordability. My dad grafted like hell all his life and I don't think I could see the inheritance I got being wiped out like that.

[pollution]

Going by your figures is the property you want in a prime location?

If so, it could be one of the few types of property that do not depreciate in such a scenario eg West End of Edinburgh, New Town etc.

Having owned such a property for 25 years ( also via an inheritance ) it took all events in its stride and I sold it for 5.5 times

what I paid for it.

[H18 SFR]

Going by your figures is the property you want in a prime location?

If so, it could be one of the few types of property that do not depreciate in such a scenario eg West End of Edinburgh, New Town etc.

Having owned such a property for 25 years ( also via an inheritance ) it took all events in its stride and I sold it for 5.5 times

what I paid for it.


Not those areas but I do get your suggestion.

I think we've been spooked with all the chat and discussion over the last week or so, there is definitely a change of narrative about how quickly and easily the economy and housing will bounce back.

[greenlex]

I never quite made it. Home report carried out on my property literally hours before the lockdown. Now in limbo. Good luck.
Estate agent phoned today. Photography firm back to work next week. (Social distancing rules etc being observed). Agent says they now only have two properties on their hands that are not under offer or sold. Offers have been made during the lockdown. Photographer booked for next Monday. Hopefully get the thing on the market as soon as the go button is pushed.

[RyeSloan]

Decided to stay put until at least 2021 - going to tie in the mortgage.

I would just like to offer a heartfelt apology to every contributor to this thread - I've wasted everyone's time.

That aside, every single property blog, housing market commentator, financial guru etc is now starting to suggest that with a deep recession, high levels of unemployment etc that property values will drop. Initially the prediction seemed to be that they would perhaps recover in around a year but everything I'm now reading predicts between 10-20% drops in value. That could wipe £72,000 of equity off a property at the top of our affordability. My dad grafted like hell all his life and I don't think I could see the inheritance I got being wiped out like that.

I said earlier the vendor was a bit nuts not accepting your offer and if any of these predictions come half true then they will be regretting it big time.

House market price predictions are however the very worst in coming true so we’ll just have to see what happens.

But it would be pretty odd not to see an impact on prices considering the unemployed numbers, amount of people on furlough and a huge drop in GDP (even a rather temporary one)...

[McD]

Decided to stay put until at least 2021 - going to tie in the mortgage.

I would just like to offer a heartfelt apology to every contributor to this thread - I've wasted everyone's time.

That aside, every single property blog, housing market commentator, financial guru etc is now starting to suggest that with a deep recession, high levels of unemployment etc that property values will drop. Initially the prediction seemed to be that they would perhaps recover in around a year but everything I'm now reading predicts between 10-20% drops in value. That could wipe £72,000 of equity off a property at the top of our affordability. My dad grafted like hell all his life and I don't think I could see the inheritance I got being wiped out like that.


Nothing to apologise for mate, its been a nice distraction from all of this to see and hear what you've been experiencing and everyone's contributions, and hoping you'd get a good outcome

[greenlex]

Property onto the market today. Virtual viewings only till the starters gun is fired up here.

[greenlex]

5 requested viewings and a note of interest from a cash buyer inside 3 days.:thumbsup:

[Andy Bee]

5 requested viewings and a note of interest from a cash buyer inside 3 days.:thumbsup:

Well played A, is that in WC?

[danhibees1875]

5 requested viewings and a note of interest from a cash buyer inside 3 days.:thumbsup:

This might be stupid...

When people say cash buyer, that just means they have the money themselves to transfer rather than getting a mortgage doesn't it?

How does that make any difference to the seller? :confused: Presumably they'd get the cash regardless, it would just come via bank/lawyers rather than directly.

Nice one though! :aok:

[greenlex]

This might be stupid...

When people say cash buyer, that just means they have the money themselves to transfer rather than getting a mortgage doesn't it?

How does that make any difference to the seller? :confused: Presumably they'd get the cash regardless, it would just come via bank/lawyers rather than directly.

Nice one though! :aok:
It means they won’t pull out at the last minute if their property doesn’t sell.

[greenlex]

Well played A, is that in WC?
Naw Andy up the road a bit.

[danhibees1875]

It means they won’t pull out at the last minute if their property doesn’t sell.

Ah okay! Thanks!

So for instance a first time buyer would count as a cash buyer, even when using a mortgage?

[greenlex]

Ah okay! Thanks!

So for instance a first time buyer would count as a cash buyer, even when using a mortgage?
Not really as mortgage could fall through too. You can’t just apply for a mortgage per se. It has to be secured against a a particular property.

[danhibees1875]

Not really as mortgage could fall through too. You can’t just apply for a mortgage per se. It has to be secured against a a particular property.

Oh okay. Maybe I took more comfort from my mortgage in principle than I ought to have at the time.

Every day's a school day, thanks! :aok:

[greenlex]

Oh okay. Maybe I took more comfort from my mortgage in principle than I ought to have at the time.

Every day's a school day, thanks! :aok:
Your mortgage in principal will be more about your ability to pay than what it’s against. I wouldn’t worry about it tho in my experience rarely do they refuse on a property. The home report valuation is rarely too far off the mark and they’ll lend on that.

[Andy Bee]

Oh okay. Maybe I took more comfort from my mortgage in principle than I ought to have at the time.

Every day's a school day, thanks! :aok:

To put things into perspective, I lost out on a property a few months ago even although I bid nearly £30k more than the person who bought it, the difference being they were cash buyers and chain free. That's how much value some people put on cash buyers.

[speedy_gonzales]

To put things into perspective, I lost out on a property a few months ago even although I bid nearly £30k more than the person who bought it, the difference being they were cash buyers and chain free. That's how much value some people put on cash buyers.
Is this "cash buyer" status verified by the solicitors?
Just wonder how they'd Police it.
I refused to deal with Barratts a few years back because they said I had to sell my current house before I could buy one off-plan. I argued I didn't need to sell my current house as I could finance the new build without having to do so, secondly, what if I sold my house and there was no plots left that I fancied???
Salesperson had no answer to either statement so I walked.

[Andy Bee]

Is this "cash buyer" status verified by the solicitors?
Just wonder how they'd Police it.
I refused to deal with Barratts a few years back because they said I had to sell my current house before I could buy one off-plan. I argued I didn't need to sell my current house as I could finance the new build without having to do so, secondly, what if I sold my house and there was no plots left that I fancied???
Salesperson had no answer to either statement so I walked.

I'm unsure how it works J. I know in my case my lawyer asked if I had to sell my house to purchase the new one which I did and he included that in the offer to guard against me having to try and arrange alternative finance. I'll be taking the gamble next time and not mentioning it in the offer.

[Mon Dieu4]

Is this "cash buyer" status verified by the solicitors?
Just wonder how they'd Police it.
I refused to deal with Barratts a few years back because they said I had to sell my current house before I could buy one off-plan. I argued I didn't need to sell my current house as I could finance the new build without having to do so, secondly, what if I sold my house and there was no plots left that I fancied???
Salesperson had no answer to either statement so I walked.

Solicitors should be asking for evidence as A) proof of funds and B) need to carry out anti money laundering checks

[pollution]

5 requested viewings and a note of interest from a cash buyer inside 3 days.:thumbsup:


Great news, fingers crossed.

[greenlex]

Great news, fingers crossed.
Cheers. I thinks that’s decent in this climate.

[Future17]

Solicitors should be asking for evidence as A) proof of funds and B) need to carry out anti money laundering checks

I've maybe misunderstood your post, but the seller's solicitor won't see proof of the buyer's finance and the buyer's solicitor won't undertake (to the seller) to verify it.

All "cash buyer" really means is that the missives won't include clauses relating to the buyer obtaining a loan or selling another property.

[greenlex]

I've maybe misunderstood your post, but the seller's solicitor won't see proof of the buyer's finance and the buyer's solicitor won't undertake (to the seller) to verify it.

All "cash buyer" really means is that the missives won't include clauses relating to the buyer obtaining a loan or selling another property.
A cash buyer has an advantage over mortgaged buyers with no chain and possibly flexibility of entry. Their solicitor who has a duty to verify from a money laundering perspective where the funds are from would be mad not to mention his client was a cash buyer to the sellers solicitor. I know if I was buying cash I’d want it known. If there’s just a few thousand in a bid it could make all the difference. (see Andy’s post and that was 30k)
I cannot see any advantage to not disclosing you’re a cash buyer.

[Future17]

A cash buyer has an advantage over mortgaged buyers with no chain and possibly flexibility of entry. Their solicitor who has a duty to verify from a money laundering perspective where the funds are from would be mad not to mention his client was a cash buyer to the sellers solicitor. I know if I was buying cash I’d want it known. If there’s just a few thousand in a bid it could make all the difference. (see Andy’s post and that was 30k)
I cannot see any advantage to not disclosing you’re a cash buyer.

A previous poster asked whether "cash buyer" status was "verified by solicitors". The only verification the seller (or their solicitor) receives is that the missives do not make the offer subject to the buyer obtaining satisfactory finance or disposing of another property.

A buyer's solicitor may well make mention that their client is a cash buyer if their client instructs them to do so, but they won't give any undertaking that they have verified that is the case. In fact, at the point of offering, they might not even have verified that is the case.

[Just_Jimmy]

Strikes me as nuts anyone would be desperate enough for a quick sale to drop 30k. I mean, I get a couple grand if needs must but 30k?

That's a deposit on a good house or a beautiful car...



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[H18 SFR]

https://www.bbc.co.uk/news/business-53084853

Definitely made the right call to stay put methinks!

[greenlex]

Well a week later and 7 viewings booked in for weekend 4th/5th July after phase two and opening housing market up on Monday 29th June. Now 4 notes of interest. :thumbsup: Looking promising.

[PiemanP]

We’ve just sold our house no bother during lockdown. 7 viewing and sold above home report value.

Unfortunately the house we were going for went a whopping 20% above home report value. For the right properties (i.e big garden!) in the right areas the market certainly still seems strong.

[pollution]

Well a week later and 7 viewings booked in for weekend 4th/5th July after phase two and opening housing market up on Monday 29th June. Now 4 notes of interest. :thumbsup: Looking promising.


That is great, four notes of interest.

Looking at the new listings on the ESPC site there is a huge surge in properties finally entering the system.

If they are sold above the home report value then we are back to fortune favours the brave.

Good luck !

[greenlex]

That is great, four notes of interest.

Looking at the new listings on the ESPC site there is a huge surge in properties finally entering the system.

If they are sold above the home report value then we are back to fortune favours the brave.

Good luck !
Now up to 18 viewings booked that weekend. :aok: Looking promising. Fingers crossed.

[Andy Bee]

Now up to 18 viewings booked that weekend. :aok: Looking promising. Fingers crossed.

Well played A.

A mate has his under offer in under a week last week, £10k over valuation although I always thought the valuation was low. Things look to be selling well at the moment.

[Andy Bee]

Strikes me as nuts anyone would be desperate enough for a quick sale to drop 30k. I mean, I get a couple grand if needs must but 30k?

That's a deposit on a good house or a beautiful car...



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That was an estate sale so I guess they just wanted the quick bucks, irony is they had to wait for 4 months over some dispute about a small piece of land which was apparently a service area so they could of waited.

[greenlex]

Well played A.

A mate has his under offer in under a week last week, £10k over valuation although I always thought the valuation was low. Things look to be selling well at the moment.
:aok: I actually am beginning to think mine might be on the low side because of the interest. I guess time will tell.

[H18 SFR]

Had a wee look on Rightmove tonight because I was bored. I noticed that three of the properties we viewed Jan/Feb/Mar time that went under offer are back on the market for sale.

I suspect some deals are falling through now.

[greenlex]

Just had an old couple view the house. They drove overnight from Dorset for a 15min viewing!!!!

[Future17]

Just had an old couple view the house. They drove overnight from Dorset for a 15min viewing!!!!

They'll be gutted when they find out they could just have stepped through the back of the wardrobe.

[greenlex]

They'll be gutted when they find out they could just have stepped through the back of the wardrobe.
:faf: Accepted an offer today nearly 7% over the valuation. Not from the Dorset young team I hasten to add.

[pollution]

:faf: Accepted an offer today nearly 7% over the valuation. Not from the Dorset young team I hasten to add.


Very good.

All the doom mongers were wrong, as usual.

( No one on here though ) Experts who earn a living as so called property specialists in newspapers.

[greenlex]

Very good.

All the doom mongers were wrong, as usual.

( No one on here though ) Experts who earn a living as so called property specialists in newspapers.
I’ve had over 20 viewers over the week since the housing market was reopened last Monday. There’s definitely still a market for the right properties.

[H18 SFR]

:faf: Accepted an offer today nearly 7% over the valuation. Not from the Dorset young team I hasten to add.

Well done. Delighted for you.

7% extra to HSL?😂😂

[Future17]

:faf: Accepted an offer today nearly 7% over the valuation. Not from the Dorset young team I hasten to add.

Pleased to hear it! Best of luck for a speedy completion.

[Ozyhibby]

Just put a flat on the market. Praying for the SG to stop LBTT tomorrow in line with UK govt.[emoji120]


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[PiemanP]

Just put a flat on the market. Praying for the SG to stop LBTT tomorrow in line with UK govt.[emoji120]


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They won't. Anything to be different from England.

LBTT was already high compared to English stamp duty. This new move makes the tax difference plain silly, especially in an Edinburgh market where the average property price is touching £300k.

I'm sure it will go down especially well in the towns on the border. No wonder they vote overwhelmingly blue every time.

[pollution]

This puts a strain on the Scottish stamp duty situation.

Inevitably Holyrood will have to come up with a similar cut.

[greenlex]

This puts a strain on the Scottish stamp duty situation.

Inevitably Holyrood will have to come up with a similar cut.
Fingers crossed. Could be about 2K extra in my pocket.:aok:

[RyeSloan]

This puts a strain on the Scottish stamp duty situation.

Inevitably Holyrood will have to come up with a similar cut.

The LBTT is tantamount to legalised theft anyway so any cut should be welcomed. Absolutely bonkers rates to be charging on simple domestic property transactions.

[Just_Jimmy]

The LBTT is tantamount to legalised theft anyway so any cut should be welcomed. Absolutely bonkers rates to be charging on simple domestic property transactions.Is it right that 250-325k is 5% so a property of 300k would be 15k?

That's absolutely wild.

Or is it like stamp duty were it's just on the parts in between?

Never bought in Scotland since it changed.

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[Mr Grieves]

Is it right that 250-325k is 5% so a property of 300k would be 15k?

That's absolutely wild.

Or is it like stamp duty were it's just on the parts in between?

Never bought in Scotland since it changed.

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You would pay £4600 on a £300k purchase in Scotland.

Until the announcement today you would have paid £5000 stamp duty in England

[greenlex]

They won't. Anything to be different from England.

LBTT was already high compared to English stamp duty. This new move makes the tax difference plain silly, especially in an Edinburgh market where the average property price is touching £300k.

I'm sure it will go down especially well in the towns on the border. No wonder they vote overwhelmingly blue every time.


You would pay £4600 on a £300k purchase in Scotland.

Until the announcement today you would have paid £5000 stamp duty in England
So which is it? More in Scotland or less? :confused:

[Mr Grieves]

So which is it? More in Scotland or less? :confused:

It depends. Purchases up to £332,999 you pay less in Scotland, above that you pay more (until today anyway)

https://www.which.co.uk/money/mortgages-and-property/home-movers/stamp-duty/lbtt-stamp-duty-in-scotland-a03c59y60hgs

[PiemanP]

It depends. Purchases up to £332,999 you pay less in Scotland, above that you pay more (until today anyway)

https://www.which.co.uk/money/mortgages-and-property/home-movers/stamp-duty/lbtt-stamp-duty-in-scotland-a03c59y60hgs

Sorry I didn’t realise there was a point up to where Scotland was cheaper (until today). However the difference ramps up very quickly after the balance point; houses around the £450k mark that we are looking at (which in decent parts of Edinburgh is a pretty standard 4 bed detached) the tax difference was about £6k...now £19k!!

Also England waived stamp duty on first time buyers up to £300k whereas Scotland cut off the zero rate for FTBs at £145k.

[McSwanky]

Sorry I didn’t realise there was a point up to where Scotland was cheaper (until today). However the difference ramps up very quickly after the balance point; houses around the £450k mark that we are looking at (which in decent parts of Edinburgh is a pretty standard 4 bed detached) the tax difference was about £6k...now £19k!!

Also England waived stamp duty on first time buyers up to £300k whereas Scotland cut off the zero rate for FTBs at £145k.It's £175k IIRC.

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[easty]

I don’t see any reason why the Scot Gov should feel pressure to scrap LBTT up here.

Scotland isn’t England.

I heard a girl I know complaining about it yesterday, I didn’t hear her complain about her free uni degree though...


As for it being legalised theft, that’s nonsense.

[McSwanky]

I don’t see any reason why the Scot Gov should feel pressure to scrap LBTT up here.

Scotland isn’t England.

I heard a girl I know complaining about it yesterday, I didn’t hear her complain about her free uni degree though...


As for it being legalised theft, that’s nonsense.

I can see arguments both ways for this one... Getting chains moving being the obvious one in favour. It would certainly benefit me personally as I'm due to move into a new house late August. But on balance, I can't see any good reason for scrapping it even for a short time - it's not exactly putting money back in the pocket of those who need it most. If you can afford a mortgage on a £400k house, you're probably not doing too badly at the moment compared to others.

[Ozyhibby]

I can see arguments both ways for this one... Getting chains moving being the obvious one in favour. It would certainly benefit me personally as I'm due to move into a new house late August. But on balance, I can't see any good reason for scrapping it even for a short time - it's not exactly putting money back in the pocket of those who need it most. If you can afford a mortgage on a £400k house, you're probably not doing too badly at the moment compared to others.

Anything that makes houses more expensive is surely a bad thing when we have people sleeping rough?


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[easty]

Anything that makes houses more expensive is surely a bad thing when we have people sleeping rough?


Sent from my iPhone using Tapatalk

No change to LBTT is going to have any kind of positive benefit to those sleeping rough.

Though, you could say scrapping it would mean less income for the government and less money available to help the homeless?

[EI255]

The Edinburgh market right now is booming. Prices are not suffering in the capital.

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[Mon Dieu4]

The Edinburgh market right now is booming. Prices are not suffering in the capital.

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House the same as mine round the corner went to a closing date the other week and is now sold, it was offers over £150k, I paid £124k for mine less than 2 years ago, be interesting to see what it finally went for as the last one the same went for £160k

Edinburgh like London does seem to be a bit of a housing bubble and prices tend to not suffer

[EI255]

House the same as mine round the corner went to a closing date the other week and is now sold, it was offers over £150k, I paid £124k for mine less than 2 years ago, be interesting to see what it finally went for as the last one the same went for £160k

Edinburgh like London does seem to be a bit of a housing bubble and prices tend to not sufferThat's exactly right. Edinburgh and London properties are extremely similar in that they are both highly sought after and their values usually don't follow the trends of the rest of the UK market. The sheer amount of English and foreign people purchasing properties in Edinburgh (usually to rent) is staggering. And the amount of high end properties shifting right now in Edinburgh is even more incredible. Even through the virus, people are still scooping up properties in the capital, and at some rate!

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[McSwanky]

Anything that makes houses more expensive is surely a bad thing when we have people sleeping rough?


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It's only houses over around £332k that are more expensive... I'm not sure I fully understand the point you're making?

[McSwanky]

LBTT zero threshold upped to £250k. No more detail on what that means to those above £250k, and will not be implemented immediately, just "as soon as possible"

[greenlex]

LBTT zero threshold upped to £250k. No more detail on what that means to those above £250k, and will not be implemented immediately, just "as soon as possible"
This is good news for me. My purchase won’t be done till October.

[Future17]

LBTT zero threshold upped to £250k. No more detail on what that means to those above £250k, and will not be implemented immediately, just "as soon as possible"

I'm maybe misunderstanding your point, but for folk buying above £250,000, it'll mean a saving of £2,100. I'm not sure what other detail you're referring to though?

It should be implemented next week, once the relevant systems have been amended.

[neil7908]

We're thinking about putting our flat on the market and wondering if anyone can recommend a good estate agent in Edinburgh?

[Jones28]

Our house has sold after 9 days for a lot more than we ever expected to get for it.

Hibs fans too!

[greenlex]

I hand the keys for my place tomorrow. Temp accommodation till October when the new build should be ready.

[GlesgaeHibby]

Property market in Edinburgh is bonkers just now. Stuff going for way above home report value.

So glad I bought new build last year. Couldn't be bothered playing this ridiculous sealed bid game.

[RyeSloan]

Property market in Edinburgh is bonkers just now. Stuff going for way above home report value.

So glad I bought new build last year. Couldn't be bothered playing this ridiculous sealed bid game.

You have to wonder if this is a big spike before the economic reality bites and we see a slump in prices.

Now not the the time to be buying I’d suggest but I suppose most sellers are also buyers so swings n roundabouts!

And the property market is notorious for not behaving itself and with super low interest rates and stamp duty concessions then who knows really!

[GlesgaeHibby]

You have to wonder if this is a big spike before the economic reality bites and we see a slump in prices.

Now not the the time to be buying I’d suggest but I suppose most sellers are also buyers so swings n roundabouts!

And the property market is notorious for not behaving itself and with super low interest rates and stamp duty concessions then who knows really!

That's part of the problem. You'll do well if you're selling just now, but you'll need to do well with a sale in order to bid silly money to buy again.

Housing wealth is only really relevant if you have one more house than you need!

[Billy Whizz]

Houses selling really quickly just now
We’ve had 4 up for sale in our estate in last 2 weeks, all under offer or sold

[Billy Whizz]

https://espc.com/property/33-manor-gardens-dunfermline-ky11-8rw/35866819?sid=952850#photos-fullscreen

Must be a Hibee’s house

[greenlex]

Ive been in temp accommodation for the last three weeks. Waiting on the builders getting the finger out. Mid October apparently.

[Jones28]

New house sorted now, unfortunately doesn’t look like our dates will align with the seller but at least something is in the pipeline!

[calumhibee1]

https://espc.com/property/33-manor-gardens-dunfermline-ky11-8rw/35866819?sid=952850#photos-fullscreen

Must be a Hibee’s house

Jesus that’s bad :greengrin

[Jones28]

Jesus that’s bad :greengrin

He must be the only Hibs fan to have THAT shirt framed. 🤢

[H18 SFR]

So the wife has brought up moving again, it’s something that seems to come up every few months.

No idea what to bloody do.

[Wilson]

So the wife has brought up moving again, it’s something that seems to come up every few months.

No idea what to bloody do.

Get a new wife

[Future17]

So the wife has brought up moving again, it’s something that seems to come up every few months.

No idea what to bloody do.


Get a new wife

A bit extreme! Surely he only has to get rid of the current one? :greengrin

[Jones28]

A bit extreme! Surely he only has to get rid of the current one? :greengrin

😂😂😂😂

[greenlex]

Finally picked my keys up for my new build yesterday.:thumbsup:

[H18 SFR]

Finally picked my keys up for my new build yesterday.:thumbsup:

Congratulations.

[pollution]

Finally picked my keys up for my new build yesterday.:thumbsup:


Great news. When's the house warming party ??

[greenlex]

Great news. When's the house warming party ??

Needs to be tonight as the floorings going down starting tomorrow. BYOB

[Callum_62]

Congrats!

Sent from my VOG-L29 using Tapatalk

[Jones28]

Finally picked my keys up for my new build yesterday.:thumbsup:

Well in, nothing quite like moving into a new house 👍🏻

[greenlex]

Joiner in all day yesterday doing the flooring. He did the whole of the downstairs he was doing. Said he’d be back today to his bit upstairs. I gave him a key so he could crack on first thing and I didn’t need to be there too early. Phone goes at half seven. All done and dusted He had started at four this morning.😂😂😂😂. Carpet fitters have been and gone today too. Move in proper on Saturday. Just in time for masters weekend.😎

[Andy Bee]

Congrats A, all the best in your new home, in this alternate universe I received the keys on Tuesday to my new property, ripped out the upstairs toilet, ripped the boiler out along with the water tanks in the loft and the copper storage tank, stripped the wallpaper off every room, ripped the kitchen out, ordered new double glazing and started the planning process of installing an extended dormer to accommodate an ensuite in one of the upstairs bedrooms, a WC downstairs and also bifolds in the kitchen. Loving every minute of it so far.

[greenlex]

Congrats A, all the best in your new home, in this alternate universe I received the keys on Tuesday to my new property, ripped out the upstairs toilet, ripped the boiler out along with the water tanks in the loft and the copper storage tank, stripped the wallpaper off every room, ripped the kitchen out, ordered new double glazing and started the planning process of installing an extended dormer to accommodate an ensuite in one of the upstairs bedrooms, a WC downstairs and also bifolds in the kitchen. Loving every minute of it so far.
What did you do in the afternoon?:greengrin

[Andy Bee]

What did you do in the afternoon?:greengrin

:greengrin Today we tore down some internal walls which used to be the upstairs bathroom along with a huge cupboard which is gonna be an ensuite. So my mate is up in the loft knocking the ceilings in and I hear a chuckle, he's only found an old porn mag hidden under the attic floor, probably,going by the hairstyles and I aint just talking heads, it's from around the 60's - 70's but the corners are all eaten by I'm assuming mice. 10 mins later he's found an old £5 note, carried on and stumbled upon the full porn collection, mags, porn playing cards all wrapped in a polythene bag and perfect condition,obviously I had to check just for valuation purposes, all from 2001 and imported from America :greengrin
Finally we've struck the jackpot....an old leather wallet with £1200 inside made up in old £20 and £10 notes, couldn't believe it and a very fruitful day :greengrin

[danhibees1875]

I knew I'd left that somewhere - I'd be grateful if you could hand it back to me. No idea about the wallet though.

[greenlex]

:greengrin Today we tore down some internal walls which used to be the upstairs bathroom along with a huge cupboard which is gonna be an ensuite. So my mate is up in the loft knocking the ceilings in and I hear a chuckle, he's only found an old porn mag hidden under the attic floor, probably,going by the hairstyles and I aint just talking heads, it's from around the 60's - 70's but the corners are all eaten by I'm assuming mice. 10 mins later he's found an old £5 note, carried on and stumbled upon the full porn collection, mags, porn playing cards all wrapped in a polythene bag and perfect condition,obviously I had to check just for valuation purposes, all from 2001 and imported from America :greengrin
Finally we've struck the jackpot....an old leather wallet with £1200 inside made up in old £20 and £10 notes, couldn't believe it and a very fruitful day :greengrin
Marvellous

[Jones28]

:greengrin Today we tore down some internal walls which used to be the upstairs bathroom along with a huge cupboard which is gonna be an ensuite. So my mate is up in the loft knocking the ceilings in and I hear a chuckle, he's only found an old porn mag hidden under the attic floor, probably,going by the hairstyles and I aint just talking heads, it's from around the 60's - 70's but the corners are all eaten by I'm assuming mice. 10 mins later he's found an old £5 note, carried on and stumbled upon the full porn collection, mags, porn playing cards all wrapped in a polythene bag and perfect condition,obviously I had to check just for valuation purposes, all from 2001 and imported from America :greengrin
Finally we've struck the jackpot....an old leather wallet with £1200 inside made up in old £20 and £10 notes, couldn't believe it and a very fruitful day :greengrin

Jesus what a find!

So far I found an old packet of fags marked at £3.99 - an antique in itself - and about 30 cents in euros.

[Future17]

I knew I'd left that somewhere - I'd be grateful if you could hand it back to me. No idea about the wallet though.

:greengrin

[pollution]

:greengrin Today we tore down some internal walls which used to be the upstairs bathroom along with a huge cupboard which is gonna be an ensuite. So my mate is up in the loft knocking the ceilings in and I hear a chuckle, he's only found an old porn mag hidden under the attic floor, probably,going by the hairstyles and I aint just talking heads, it's from around the 60's - 70's but the corners are all eaten by I'm assuming mice. 10 mins later he's found an old £5 note, carried on and stumbled upon the full porn collection, mags, porn playing cards all wrapped in a polythene bag and perfect condition,obviously I had to check just for valuation purposes, all from 2001 and imported from America :greengrin
Finally we've struck the jackpot....an old leather wallet with £1200 inside made up in old £20 and £10 notes, couldn't believe it and a very fruitful day :greengrin


That's great !.

But what would happen if the former owner or family were to read this and claim it back?

[Andy Bee]

That's great !.

But what would happen if the former owner or family were to read this and claim it back?


Yup, I can just see him chapping my door and asking for his long lost porn collection. :greengrin

[Jack]

That's great !.

But what would happen if the former owner or family were to read this and claim it back?

It at least used to be the case that once the transfer of ownership had taken place tough luck on anything left behind.

[Future17]

That's great !.

But what would happen if the former owner or family were to read this and claim it back?


Yup, I can just see him chapping my door and asking for his long lost porn collection. :greengrin

Would be the best episode of Judge Judy ever!

[overdrive]

:greengrin Today we tore down some internal walls which used to be the upstairs bathroom along with a huge cupboard which is gonna be an ensuite. So my mate is up in the loft knocking the ceilings in and I hear a chuckle, he's only found an old porn mag hidden under the attic floor, probably,going by the hairstyles and I aint just talking heads, it's from around the 60's - 70's but the corners are all eaten by I'm assuming mice. 10 mins later he's found an old £5 note, carried on and stumbled upon the full porn collection, mags, porn playing cards all wrapped in a polythene bag and perfect condition,obviously I had to check just for valuation purposes, all from 2001 and imported from America :greengrin
Finally we've struck the jackpot....an old leather wallet with £1200 inside made up in old £20 and £10 notes, couldn't believe it and a very fruitful day :greengrin

Nicer than what a plumber found when fixing a leak in my toilet... used condoms down the back of the concealed cistern. This was much to my ex-wife’s embarrassment: “they aren’t ours”. The plumbers said it might have been from a tradesman working on the house when it was being built... apparently it is common for them to take folk into the houses for some break time loving.

Someone will find a iPhone in the cavity wall of my house if it ever gets tore down. Had a roofer up in the loft inspecting a leak and he was using his iPhone as a torch. Dropped it down there. We could hear it ring for the next day.

[Andy Bee]

Nicer than what a plumber found when fixing a leak in my toilet... used condoms down the back of the concealed cistern. This was much to my ex-wife’s embarrassment: “they aren’t ours”. The plumbers said it might have been from a tradesman working on the house when it was being built... apparently it is common for them to take folk into the houses for some break time loving.

Someone will find a iPhone in the cavity wall of my house if it ever gets tore down. Had a roofer up in the loft inspecting a leak and he was using his iPhone as a torch. Dropped it down there. We could hear it ring for the next day.

:faf: Brilliant, pity the phone wasn't in aeroplane mode, he could of flown it out :greengrin

[Callum_62]

Joiner in all day yesterday doing the flooring. He did the whole of the downstairs he was doing. Said he’d be back today to his bit upstairs. I gave him a key so he could crack on first thing and I didn’t need to be there too early. Phone goes at half seven. All done and dusted He had started at four this morning.[emoji23][emoji23][emoji23][emoji23]. Carpet fitters have been and gone today too. Move in proper on Saturday. Just in time for masters weekend.[emoji41]If I remeber correctly you were moving to a development close to me correct?

How's it going?

We've been in for 8 months now

Sent from my VOG-L29 using Tapatalk

[greenlex]

If I remeber correctly you were moving to a development close to me correct?

How's it going?

We've been in for 8 months now

Sent from my VOG-L29 using Tapatalk
I am indeed Calum. In proper last Saturday after a long slog. House is great but the rear garden is an absolute swamp. It’s to be addressed. The site manager is a good pal of mine so it will be done. Still loads of boxes to go through but loads if time to go through them proper. Blinds arrived today so that’s the weekend job. I’ve moved here from the sticks and that just eat app has taken a battering alongside my waistline.:greengrin Just in time fir the level 4 lockdown too. Might get a few more uses yet.:aok:

Did you get FTTP broadband/internet over there?

[Callum_62]

I am indeed Calum. In proper last Saturday after a long slog. House is great but the rear garden is an absolute swamp. It’s to be addressed. The site manager is a good pal of mine so it will be done. Still loads of boxes to go through but loads if time to go through them proper. Blinds arrived today so that’s the weekend job. I’ve moved here from the sticks and that just eat app has taken a battering alongside my waistline.:greengrin Just in time fir the level 4 lockdown too. Might get a few more uses yet.:aok:

Did you get FTTP broadband/internet over there?Good to get in, it will take time to get everything organised. We only just now upgraded our lighting from a hanging light bulb [emoji23][emoji362]

Yeah alot of new builds have poor drainage out back... We might extend our artificial grass next spring. Ours isn't too bad but nit great

Yeah we are with BT FTTP. I think we are stuck with them for a year or 2. No other provider said it was available when my contract ended a few months agk

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[McD]

Good to get in, it will take time to get everything organised. We only just now upgraded our lighting from a hanging light bulb [emoji23][emoji362]

Yeah alot of new builds have poor drainage out back... We might extend our artificial grass next spring. Ours isn't too bad but nit great

Yeah we are with BT FTTP. I think we are stuck with them for a year or 2. No other provider said it was available when my contract ended a few months agk

Sent from my VOG-L29 using Tapatalk


I think with some new build estates, the builders sign some kind of exclusivity agreement with BT, for a fixed period of time (5 years is often mentioned)

[greenlex]

Good to get in, it will take time to get everything organised. We only just now upgraded our lighting from a hanging light bulb [emoji23][emoji362]

Yeah alot of new builds have poor drainage out back... We might extend our artificial grass next spring. Ours isn't too bad but nit great

Yeah we are with BT FTTP. I think we are stuck with them for a year or 2. No other provider said it was available when my contract ended a few months agk

Sent from my VOG-L29 using Tapatalk
Plenty time to settle proper.:thumbsup:

[overdrive]

I’m in the process of selling my house and a colleague has accepted an offer on her house. She has been told by her solicitor that she must be out of her house at least 10 days (ideally longer) prior to the planned handover date to avoid any situation where you are having to self-isolate.

Has anyone else encountered this? It means you have to find some sort of temporary accommodation which is an expense I haven’t factored in (and may be difficult in the current circumstances).

[speedy_gonzales]

I’m in the process of selling my house and a colleague has accepted an offer on her house. She has been told by her solicitor that she must be out of her house at least 10 days (ideally longer) prior to the planned handover date to avoid any situation where you are having to self-isolate.

Has anyone else encountered this? It means you have to find some sort of temporary accommodation which is an expense I haven’t factored in (and may be difficult in the current circumstances).
Could be a recent instruction but my neighbours (Edinburgh EH12) moved just 2 weeks ago and this wasn't the case.

[overdrive]

Could be a recent instruction but my neighbours (Edinburgh EH12) moved just 2 weeks ago and this wasn't the case.

Cheers. My solicitor hasn’t mentioned anything and neither has my girlfriend’s solicitor (she is at the same stage as my colleague in terms of selling her flat).

It might just be different interpretations from different solicitors which I think is common at the moment, eg I’m allowed to be in the house whilst people are viewing (keeping a distance of course) but my girlfriend was told she must stand outside during all viewings.

[overdrive]

Had an offer accepted today on a house that both me and my partner love. First offer we’ve made since we’ve been looking. Move in date is really long though (end of July) due to the sellers moving into a new build.

Just need to get my current place sold now. Went on the market today... at last after my ex continuously stalling despite it being almost three years since she left (her decision). Early signs are encouraging with four viewing requests in the first hour of it being on the ESPC and 6 viewings requested overall by the end of the day.

[greenlex]

Had an offer accepted today on a house that both me and my partner love. First offer we’ve made since we’ve been looking. Move in date is really long though (end of July) due to the sellers moving into a new build.

Just need to get my current place sold now. Went on the market today... at last after my ex continuously stalling despite it being almost three years since she left (her decision). Early signs are encouraging with four viewing requests in the first hour of it being on the ESPC and 6 viewings requested overall by the end of the day.
Good luck👍

[Future17]

Had an offer accepted today on a house that both me and my partner love. First offer we’ve made since we’ve been looking. Move in date is really long though (end of July) due to the sellers moving into a new build.

Just need to get my current place sold now. Went on the market today... at last after my ex continuously stalling despite it being almost three years since she left (her decision). Early signs are encouraging with four viewing requests in the first hour of it being on the ESPC and 6 viewings requested overall by the end of the day.

Good luck! Have you given any thought to what you'll do if the highest bidder for your place doesn't want to wait til July? Might need somewhere temporary for a couple of months?

[overdrive]

Good luck! Have you given any thought to what you'll do if the highest bidder for your place doesn't want to wait til July? Might need somewhere temporary for a couple of months?

Yeah we’ll either rent for a few months or move in with my partner’s parents.

[Since90+2]

For anyone who has bought or sold recently do they have an indication of what homes are going for in relation to the home report value? We are in the process of selling / buying at the moment and trying to figure out what's going to be roughly within budget.

Also, does anyone have any experience of living in the Silverknowes or Davidson's Mains area? Good or bad?

[overdrive]

For anyone who has bought or sold recently do they have an indication of what homes are going for in relation to the home report value? We are in the process of selling / buying at the moment and trying to figure out what's going to be roughly within budget.

Also, does anyone have any experience of living in the Silverknowes or Davidson's Mains area? Good or bad?

We were told 10%.

[CropleyWasGod]

For anyone who has bought or sold recently do they have an indication of what homes are going for in relation to the home report value? We are in the process of selling / buying at the moment and trying to figure out what's going to be roughly within budget.

Also, does anyone have any experience of living in the Silverknowes or Davidson's Mains area? Good or bad?

I do.

It's got a lot going for it. Close to the beach, and plenty green spaces, such as D Mains Park and Clerrie Woods. Walkways/cycle ways have you in town pretty quickly. Decent choice of buses. Cracking school :greengrin

It can be a bit suburban-ish at times, and you might have me as a neighbour, but just close your curtains.....:cb

[speedy_gonzales]

For anyone who has bought or sold recently do they have an indication of what homes are going for in relation to the home report value? We are in the process of selling / buying at the moment and trying to figure out what's going to be roughly within budget.


Your estate agent should be able to give you solid advice as they have access to figures more readily than us buyers. But, I've been keeping an eye on house prices in the Corstorphine area since May last year (we're aiming to move in the 2nd quarter of this year) and when I compare the listed price to the sold price, the average premium seems to be around the 10% mark now.
At the start it was closer to 20% but recently many homes have been going closer to their home report valuation.

[Itsnoteasy]

Your estate agent should be able to give you solid advice as they have access to figures more readily than us buyers. But, I've been keeping an eye on house prices in the Corstorphine area since May last year (we're aiming to move in the 2nd quarter of this year) and when I compare the listed price to the sold price, the average premium seems to be around the 10% mark now.
At the start it was closer to 20% but recently many homes have been going closer to their home report valuation.


Certainly couldn't say that for Liberton/Fairmilehead. Still going for well over home report valuation. I've looked at 4 houses in the last week, closing date being set after 3 days on the market.

[speedy_gonzales]

Certainly couldn't say that for Liberton/Fairmilehead. Still going for well over home report valuation. I've looked at 4 houses in the last week, closing date being set after 3 days on the market.
Oh for sure, it still happens, there was a house on Caroline Terrace that went about 30% over the asking price just before Christmas.
And like you, recently, I've seen a fair few houses go to a closing date within a working week of going on the market.

I'm starting to get a bit stressed out as my house is virtually ready to go on the market but we haven't seen anything we like yet, or certainly nothing that ticks most of our boxes. A neighbour who works in the industry still reckons it's better to sell first before buying?!?
Not looking forward to selling up then maybe lodging with the in-laws!!!