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Pharox

Moving To Scotlan

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Hi folks,

I will be moving to Scotland from Essex in about 3 months time. Over the last few months I have been looking at houses in the Greenock area. I am little unclear of a couple of things. I have found a couple of houses that I have been watching, that all say 'Offers in Excess of £110,000'.

Can anyone tell me, what 'Offers in Excess of' actually means? and how it works. Is the a rule of thumb, like add 10% to that price or something? What would be a good starting offer to put in?

Thanks

Kev

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It depends a lot on the area and how optimistic buyers/sellers are feeling, but historically "offers over X" has meant the final sale price has been about 10-30% over (30%+ typically happening in Edinburgh, when things have been really crazy). If you offer exactly X, or anything under, the seller will say no.

When things are slow, or a seller wants a quick sale, it's quite common for properties in Scotland to go for a fixed price where the first person who offers that typically gets it. However properties that aren't shifting often flip between "offers over" and "fixed price", where the fixed price is 10-30% over (or whatever the sellers think they can get away with).

At that point if you pay the FP you'll get the property, but depending on how badly you want it/what competition there is/what your position is/etc you could reasonably offer anywhere between X and the fixed price.

I would keep an eye on similar properties on GSPC with Property Bee, and see if you can see what kind of FP they go to after being at OO; that will give you an idea of what %ge over sellers in that area expect, and so what kind of offer would be taken seriously.

For a 110K property you'll probably end up spending between 110K and 140K - but if you have the time it'd be worth watching that area with Property Bee and see if things are static or are starting to move down.

Edited by riad

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Also have a look on ourproperty.co.uk or nethouses to get an idea of what they've gone for recently - don't know much about the Greenock market but where I live in Glasgow prices are down to what they were maybe 3 years ago or so. #

Have you thought of renting for 6 months to get a better idea of the place?

Good luck.

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Can I just say one thing...Are you actually insane?!

Is there a reason why you are looking at Greenock? I've got a feeling you mite be taking the piss! :P

Let me tell you..I moved to Greenock when I was 8 years old, having been born and raised in a leafy part of Hertfordshire.

I've been here for 16 years now, and I'm just waiting for prices down south to dip a little more and them I'm offski!

Greenock is perhaps the most scummy, disgusting place I've been to in the whole of the UK......have a walk through the Oak Mall before you move here - if your still intent on living here after that, then god help you!

And if you think knife crime is bad in London, just wait till you move here - most cases go unreported right enuff, but there isnt a Saturday night that goes by without someone getting bottled or beaten up.

My advice is stay away from Greenock - if you must move to Inverclyde (for work reasons), then please for your own sake look at Gourock or Inverkip, which are I have to admit are a fair bit nicer.

Thanks

David

Edit - Spelling

Edited by davidmc08

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Hi folks

Thankyou for your replies, lots of info there. I will check out those websites today. I agree Greenock is not the best looking place to live, but the reason, I am moving there is because thats where my girl lives, which kinda limits my options. There are a couple of houses in Gourock which I like. I will see how things go.

Thanks

Kev

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Hi folks

Thankyou for your replies, lots of info there. I will check out those websites today. I agree Greenock is not the best looking place to live, but the reason, I am moving there is because thats where my girl lives, which kinda limits my options. There are a couple of houses in Gourock which I like. I will see how things go.

Thanks

Kev

Greenock is the a5sehole of the world I should know I passed through it once.

O/O in Scotland means I'm on the HPI drug over me more than my place is worth.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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