wtf does under offer mean ?
does that mean he has accepted the offer or that an offer has been made.
internets about as clear as mud.
either way im probably out but it would be nice to know for future
Chat Forum
calling scottish property folks ....
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Posted 5 months ago #
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I know, but i'm not scotish so won't answer
Posted 5 months ago # -
It means that a formal offer has been made from one parties legal agents to the other, and that they are in the process of concluding the sale.
IANAL; my house is under offer at the moment.
Posted 5 months ago # -
so thats basically a **** off its sold
second viewing tonight so ill just leave it at - well if your sale falls through you have my number.
too slow this time - wont happen again !
Posted 5 months ago # -
As I understand it you can't gazump people up here so once it's under offer, no one can come in with another offer.
Posted 5 months ago # -
It might fall through- in my case, the potential buyer is sorting out their mortgage and I'm told that now takes longer than it used to. Something about a crisis, and banks now actually checking paperwork rather than accepting things at face value.
So, its only under offer until its actually, officially sold. But no, you can't make a higher offer.
I think the Scottish system is better than south of the border, IMHO.
Posted 5 months ago # -
Either something belongs to one person, or it belongs to someone else.
Under offer, in Scotland means the seller's solicitor has accepted an offer from the buyer's solicitor. The sale is going through the process. The seller's solicitor is acting under Scottish Law Society guidelines and will not accept another offer, since that would break the guidelines. If a gazumping offer is made, passed on to the seller, who decides to accept it, the seller's solicitor resigns and he finds another. That's the theory, anyway.Oops, forgot I'm not Scottish either.
Posted 5 months ago # -
cheers guys thought as much - just not much info out there !
ill go view it anyway and show the mrs what we should be looking for.
i had a feeling it would go quick anyway.
there will be others
Posted 5 months ago # -
It is also so you don't waste money on a survey. Area are you looking at?
Posted 5 months ago # -
stuart
general aberdeen city/shire
never intended to get a survey other than the stipulated mortgage one anyway.
colleague just made a point in that - it was the owner him self telling me it was underoffer - just after he had accepted my request to view - possible mix up of terms and that he has had an offer but not yet accepted and hence still willing to let me view.
will clarify position with him tonight. end of the day its the first ive seen i like so im sure there will be others.
Posted 5 months ago # -
When we were selling recently, we had a couple of offers but we decided to stick on a closing date. I guess that during that period the house was "under offer", but it didn't preclude anyone else from also bidding (in fact, someone else did). If you think you might be interested, get your solicitor to stick in a Notification of Interest, that will at least give you the opportunity to bid.
Posted 5 months ago # -
It could be a case that the owner has miss worded what he was saying to you. To the best of my knowledge there are 2 ways that a property goes under offer.
1 buyer viwes propert likes it makes formal offer property is formally under offer
2 seller gets a few notices of interest goes to closing and picks the best offer (not neciserily the most moeny but more often than not) then the property goes formally under offer.
By the sounds of it you would be worth while giving your solicitor a quick call to find out if the property is formally under offer to understand where you stand when you go to view it tonight.
As druidh mentions you can get your solicitor to stick in a notice of interest which should allow you to bid on the property or at worst you you will be notified if it is under offer/off the market.
Posted 5 months ago # -
Oh - and you might not even need a survey. Our buyers lender was happy to go with the Home Report.
Posted 5 months ago # -
ach tbh thinking about it more in depth its a nice house , but its the first ive seen i liked. Locations nice , layouts nice and rooms are a descent size
its in budget but near the top end of the budget
but being realistic its too big - i dont intend on ever having enough kids to fill it ......
as a result it will cost alot to heat/run/maintain and council tax is very high - not crazy loads but its money that is better used for bike riding
Posted 5 months ago # -
Houses will be much cheaper soon...
Posted 5 months ago # -
as much as i agree with you on the whole epicyclo i cant see it in aberdeen unfortunantly
Posted 5 months ago # -
I think it means an offer has been accepted but the missives have yet to be concluded. The sale can fall through until then. Once missives are concluded the house is sold.
Posted 5 months ago # -
Nice thread resurrection
I knew i remembered a similar thread to this in he past.It's been a while since I last bought a house, but going to see one tomorrow night. AFAIA the house has no closing date (Scotland btw). I want to put in an offer which will be very cheeky and I don't really want to pay my solicitor to put in a formal offer until I know there is a good chance it will get accepted.
Can I put in a verbal offer with the selling agent? Is it just a case of putting in verbal offers until the seller accepts one, then follow it up with a written offer through my solicitor?
Posted 1 month ago # -
Your agent shouldn't charge you for making an offer, it's usually a flat fee.
Their agent may not take you seriously if you don't go through a solicitor either.
Posted 1 month ago # -
Cheers Al, will speak to my solicitors about the fees. He usually picks a number from the air and I have to remind him when the invoice comes in anyway.
I can imagine that there is going to be a lot of back and forwards before we reach a conclusion. House is on the market for £190,000. I am looking to pay no more than £170,000, but will be starting at £140,000. The bank own it. I don't want to have to phone up my solicitor and get him to put an offer of £140,000 when it is likely to take 3 or 4 more offers before we get into serious pricing.
Posted 1 month ago # -
IMO you are overthinking it & wasting your time going in at 140K if you think it's worth £170K, but it's up to you.
What does the HIP thingmy value it at?
Posted 1 month ago #
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