Buying a farm!

[Moonpig23]

We’re finally in the position to buy some land and have the horses at home with us so we’ve started looking at what’s around and have found a small stable yard and bungalow which would potentially be great for us.

It’s about an hour west of Edinburgh and we haven’t bought for many years so we’re not really sure how to play it and what the markets currently like.

Property we like has been on the market for about 8 months (!) and so the price has been reduced compared to the valuation on the home buyer report but we still think the ‘offers over’ price is too much compared to the work it needs putting in. We wouldn’t be looking to sell for a few years (if at all) but given it hasn’t sold yet, we’re aware it may take a bit of time to sell up if and when the time comes.

Anyone bought a small holding / small farm / stables before that could offer some advice? Or even anyone with an idea of the current market?


😊

 

[teacups]

Bumping this for you - know nothing about the Scottish housing market or buying process (except that it is very different), but sounds really exciting for you!

 

[HeyMich]

Sounds like our neck of the woods, lovely spot!

We bought in Dec and paid below the asking price and below the home report value. We had good advice from a local estate agent though, and took our time negotiating.

If it is meant to be, it will be!!

Good luck, and let us know how you get on!

 

[TPO]

You can offer anything you want in Scotland. If it's on for O/O £350k there is nothing to stop you offering £290k for example. They might then come back to you and agree a price of £310k or if someone else puts in an offer they will put on a closing date and then you offer what you hope is the higher offer and it will be successful. Not the same "gazumping" that you get in England.

So yeah, basically just offer what it's worth to you/what you can afford taking the cost of upgrading into consideration

 

[Lintel]

Offer what you think it's worth. Our bungalow with land was up for months and under home report value of 320k.
We made a cheeky offer and we met halfway with owners.