scottish system

[fine,thanks]

im in the process of downsizing, is the scottish system rubbish or what, ? i hate estate agents so much at the moment, a property is put on the market at a price, then told ohhhhhhhhhh it will go for 10% or 20 % over the asking price, could we not be told this in the first place ?

[raysparx1]

Hi crete, the scottish system seems fair in some ways, like when you agree to buy that is a firm agreement and legally binding, but the bit you are on about does seem a bit mad, when a house is put up for say �150,000 and then it is like an auction, be much better if they asked for �165,000 to start with, but at least you don't have the gazumping we do south of the border, good luck with your future move. hope it works

[eleanswers]

I wouldn't even bother with estate agents if I were you. What can they do that you can't? While charging a forture for the privalegde of causing you grief. There are many websites that help/advice on sell ing your own house now.
Also the estate agents are working for you, you can tell them what price you want your property advertised for, If I had to go this route I would put the price I wanted and put O.V.N.O. (or very near offer) on it. Then the buyer knows exactly the price to pay.

[buildersmate]

In the Scottish system they ask for bids over XYZ - which is a way of saying don't bid any lower because the seller won't sell. There is no agent who can tell exactly how much a house will sell for - because its a buyer who decides how much the property is worth to him/her. So, no, you couldn't be told this in the first place because agents aren't psychics.

[ellingstone]

Having just moved from Dundee to Cardiff I have found the Scottish system to be much more straight forward than here .It took 11wks to complete down here compared to just 6 wks in Scotland. As for prices at offers over I think its a great system as its what people are prepared to pay not what the market dictates and that can only be a good thing especially when you come to sell. Good luck