"Offers over" means the seller is inviting offers above the listed price. But unlike England, where the asking price is the seller's target, in Scotland the Home Report valuation is the key reference point — not the offers over figure. Properties often sell above the Home Report value in competitive markets.
The three pricing terms in Scotland
| Term | What it means | What to expect |
|---|---|---|
| Offers over | Bids above the listed price are invited | In competitive areas, expect multiple bidders and final sale price above the Home Report value. The offers over figure is often set below the Home Report value to attract interest. |
| Offers around | Bids near the listed price are expected | More flexibility — slight offers above or below are possible. Seller has a clear price target but will consider near offers. |
| Fixed price | The first buyer to offer the full price gets the property | No bidding war. First come, first served. Act quickly if you want the property — but you do not need to offer above the price. |
Why the offers over price is not the most important number
In Scotland, sellers and their agents typically set the offers over price below the Home Report valuation. This is a deliberate strategy to attract more viewers and generate competitive bidding — with the aim of achieving a final sale price above the Home Report value.
For example, a property with a Home Report valuation of £200,000 might be marketed at "Offers Over £185,000". The seller hopes that multiple interested buyers will bid above £200,000 at a closing date. The offers over price of £185,000 is designed to attract viewers who might assume the property is priced at less than its value.
As a buyer, the Home Report valuation is the more useful anchor point. It is what your mortgage lender will lend against, and it is the baseline from which competitive premiums are calculated.
How offers over works in practice
Property listed at offers over
The asking price is set below the Home Report valuation. The Home Report — including the valuation — is made available to all interested buyers. You can request it from the seller's agent at any time.
Multiple buyers note interest
Interested buyers instruct their solicitors to note interest. Your solicitor can ask how many notes of interest have been registered — a key indicator of competition level.
Closing date set
Once sufficient interest is registered, the seller's agent sets a closing date. All interested parties must submit their best offer by the deadline — typically noon on the closing date. No buyer can see what others are bidding.
Seller accepts the best offer
The seller reviews all bids and chooses which to accept. In competitive markets, the winning bid is usually above the Home Report valuation. The seller is not obligated to accept the highest bid, but usually does.
The cash implication of bidding above Home Report value
This is the most important financial consequence of the Scottish "offers over" system. If you bid above the Home Report valuation, your mortgage lender still lends against the lower valuation figure. The gap between your bid and the valuation must come from your own cash savings.
Home Report value: £200,000. Your bid: £215,000 (7.5% above). Your mortgage: 90% of £200,000 = £180,000. Cash needed: £20,000 deposit + £15,000 premium above HR value + LBTT + legal fees. Total cash requirement: approximately £39,600, not £20,000.