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Offers over is Scotland's sealed bid system for selling property. The asking price is set below the Home Report valuation to attract interest, and buyers submit sealed bids by a closing date. Any amount offered above the Home Report valuation must come from the buyer's own cash — the lender won't fund it. This 'offers over' gap catches many buyers off guard.
The Scottish property market uses a distinct offer system that surprises many buyers coming from England. Understanding "offers over" is essential before making any bid in Scotland.
What "offers over" means. The listed price is set deliberately below the Home Report valuation to attract multiple interested parties. Interested buyers note their interest through their solicitor. At a closing date (set by the seller's solicitor), all parties submit sealed bids simultaneously. The seller then reviews offers — typically accepting the highest, though factors like preferred settlement dates, chain-free status, or mortgage readiness can influence the decision.
The Home Report gap. Mortgage lenders fund based on the Home Report valuation, not the purchase price. If the Home Report says £250,000 and you bid £270,000, the lender provides a mortgage of up to £250,000 × LTV ratio. The extra £20,000 above the Home Report must come from your own cash savings. In a competitive market, buyers regularly pay 10–20% above the Home Report value in high-demand areas (Edinburgh, St Andrews, East Lothian).
Fixed price listings. Not all Scottish properties use the "offers over" system. "Fixed price" or "offers around" listings exist too. Fixed price means the seller will accept the stated amount; offers around suggests some flexibility in either direction.
Note your interest. Before submitting a bid, you or your solicitor must formally "note interest" with the selling solicitor. This puts you on the list to be notified when a closing date is set. Without noting interest, you may miss the closing date entirely.
No legal obligation until missives are concluded. Unlike in England, where exchange of contracts creates a binding commitment, noting interest and even submitting a bid in Scotland does not commit either party. The sale becomes legally binding only when missives are concluded — the formal exchange of letters between solicitors. This means sellers can accept a higher offer at any point before missives complete, which can be frustrating for buyers who thought they had a deal.
Strategy for buyers. In competitive markets, research comparable sales (using Registers of Scotland data, which is publicly available), understand the Home Report valuation, and decide your absolute maximum before closing date. Sealed bids are one-shot — you cannot revise upward after submission.
In competitive areas (Edinburgh city centre, East Lothian, parts of Glasgow West End), properties regularly sell 10–20% above the Home Report value. However, bidding above the Home Report value requires extra cash, as lenders won't fund above it. Research recent sale prices for comparable properties using Registers of Scotland data before deciding your maximum.
If only one party notes interest, there may be no formal closing date — the seller may invite you to submit an offer directly. You are in a stronger negotiating position and may be able to offer at or near the Home Report value. However, sellers are under no obligation to accept — they can set a closing date even with only one interested party, or reject the offer and relist at a higher price.
Yes — the seller can accept any offer, not necessarily the highest. Factors like settlement date, chain-free status, mortgage offer in hand, and buyer profile all influence the decision. However, most sellers in practice do accept the highest bid. The seller is also free to reject all bids and relist the property.