Bid To Build 1100 New Homes Next To Gchq In Cheltenham
The new homes are planned for a site to the west of Cheltenham as part of a wider mixed-use development known as The Golden Valley Development
- 14:21, 5 DEC 2022
- 16:11, 5 DEC 2022
Developers have submitted plans to build 1,100 homes on the outskirts of Cheltenham. A planning application has been made to both Cheltenham Borough Council and Tewkesbury Borough Council to deliver the new homes on a site to the west of Cheltenham as part of a wider mixed-use development known as The Golden Valley Development.
St. Modwen was selected as the development partner in 2021 by landowner, Midlands Land Portfolio Limited, the property development arm of Severn Trent Plc. Since then, St. Modwen representatives say they have spent the last 18 months preparing the plans and consulting with stakeholders.
The developers say the proposals seek to secure a planning consent to deliver a mix of high quality, well designed sustainable housing that will meet local and regional needs. Alongside this, the application includes affordable housing as well as a flexible mixed-use area with a community hub, a primary school and green recreational space for sports pitches, walking and cycling routes.
What Should You Offer On A House
Theres no right or wrong price to bid for a home. The amount you should bid on your property depends on where you live, the homes size, the average cost of living in your area and more. Some factors to consider before you decide how much to bid include:
- Comparable properties: Use an online real estate database to look for comparable properties in your area. Take a look at how many homes are on the market and the average selling price for properties like yours.
- Length of time on the market: How long has the home been on the market? If its been up for sale for a long time, the seller might accept a lower offer.
- Repairs and renovations: Do you know that the home needs repairs or renovations? To stay on budget or lower your offer.
- Other interested buyers: You can ask your real estate agent to get in contact with the sellers agent to learn about the competition on the home. If there are multiple buyers interested in the property, youll need to make a stronger offer.
Still not sure how much to offer? Ask your real estate agent for advice! Your agent is an expert in your local real estate market and can help you decide how much to offer. Consult him or her for advice before you submit your offer letter.
Bidding War: How To Win One In A Real Estate Transaction
Carla Ayers14-Minute ReadNovember 15, 2022
Whether youre a buyer or a seller, everyone wants to get the best possible price. As a seller, that means getting the highest dollar amount and best terms for your home, which makes a bidding war appealing.
For a buyer however, being involved in a bidding war is a disadvantage. A buyer may have a dream home theyre looking to score, and they dont want others driving up the price of it.
Your ability to do well in your real estate transaction typically depends on what kind of market your local area is currently experiencing: a sellers market or buyers market. A sellers market occurs when the demand for housing exceeds the supply. A buyers market arises when there are a lot of homes listed but few interested buyers.
As a seller, youll ideally want to list your home during a sellers market. In these conditions, the lower inventory forces buyers to compete against each other, making bidding wars far more common. As a buyer, your chances of getting a good deal are highly improbable when sellers have the upper hand, but there are ways you can beat out your competition.
Continue reading this article, to learn what a bidding war is, as well as the best tips for starting and winning one.
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Sign Up For Your Online Account
You will need an email address and to sign up for an online account to apply and bid for homes.
If you haven’t already got an email address, now is the time to set one up. It’s really simple and there are loads of guides and useful tips online. Visit www.learnmyway.com to learn more.
If you’re still having trouble, the following might be able to help:
If you have a current housing application, or if you are already live in a Wolverhampton Homes property, you will need to register as an ‘Existing Applicant or Tenant’. Please note that this will not change your application.
The Steps To Placing A Bid
For full instructions, visit our .
The time of your bid makes no difference when you bid as long as you bid bewteen Tuesday 6pm and Monday 10am.
If you change your mind while the advert is live, you can add or delete bids. You just need to log on to your account to update your bids.
Please remember that if you don’t bid you won’t be rehoused and if you haven’t placed a bid in six months your application could be deferred.
If you are unable to bid independantly and have no one that can support you with this process, please contact us using our
If you have never held a tenancy before or if you’ve had problems during a previous tenancy, you will not be able to bid until you’ve been to one of our .
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Choosing Your Bids And Refusing Offers
It is very important that you choose your bids carefully and only bid for properties that you are eligible for and would accept if offered.
If you refuse two offers of accommodation within a six month period your housing application will be frozen for six months. You will not be able to bid whilst your application is frozen.
Search For And Bid On Homes
Once all of your information has been received and verified, we will make your account active and send you a letter to advise what type of property you can bid for. You will then be able to search for and bid on homes.
Each week new available properties are advertised on the South Tyneside Homes website.
You will need to log in to your South Tyneside Homes account to view and place a bid on properties that you are interested in.
- Homes are advertised from Thursday at 00:01 to Monday at 23:59
- You can place 3 bids per week
To search for and bid on homes, visit:
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Sign Up For Email And Text Alerts
Find out when properties that match your criteria become available. No spam, we promise.
RealtyBid.com, a Covius company.
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Add An Escalation Clause
An escalation clause is an addition to your purchase offer that formally states youre willing to increase your bid by a certain amount if another buyer ends up matching yours. In other words, youre promising that youll raise your offer incrementally up to a maximum amount if necessary.
This tactic can prove to the seller how serious you are about the home right away but tread carefully. You might find youre simply playing a game for the benefit of the seller, especially if the home has been intentionally underpriced.
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What You Can Bid For
You need to be on our housing register to be able to bid for available properties. You’ll only be able to bid on properties that match your requirements. For example, some housing is only available to those over 60. You won’t be able to bid for a bungalow if you’re aged under 60, and have no proven medical need for ground floor accommodation.
Our bidding cycle runs every Wednesday, until the following Monday at midday. You’ll need to register your bids when the cycle is open.
How To Make A Bid
There are a number of ways:
- online at www.tyneandwearhomes.org.uk
- text your housing reference number ‘space’ date of birth ‘space’ first property reference ‘space’ second property reference ‘space’ third property reference to 0753 740 4367
- visit your local housing office
Before bidding you can see your current position for the property, which might help you decide whether or not to make a bid on a different property. Your position may also change as other bids are made. You can choose to withdraw your bid and place an alternative bid if you want.
We advise that you only ever bid on properties that you have a genuine interest in, otherwise it can affect your priority for housing.
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Using An Escalation Clause
An escalation clause automatically increases your purchase offer by a certain amount above all competing offers. This continues until the price reaches the maximum price youve determined youre willing to pay for the home. In other words, you bid $500,000 on a house and write an escalation clause that tops the highest bid by $5,000, until the price reaches $550,000.
Our agents are not big fans of escalation clauses, says Don Mastroianni of The Agency North Shore Long Island.
This clause puts the bidding beyond your or your agents control. Also, it doesnt take into consideration valuable contingencies beyond price that you or other bidders might be willing to add.
What to do instead:We recommend clients give a very strong offer right from the start to be able to stand out from the competition, says Mastroianni.
Make a strong entrance with a high bid, and youll never be forgotten.
Heres How To Bid On A House At Auction And Snag A Great Real Estate Deal
Kim Dinan is a writer, journalist and author. She’s the outdoor news editor at Blue Ridge Outdoors and writes regularly for her local paper in Asheville, NC, covering everything from the necessity of home inspections to trends in the local economy. Kim is also the author of “The Yellow Envelope,” a memoir about the time she sold her house and traveled around the globe.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
Youve found a house you like and pulled a bid together. Now, you find yourself at the county courthouse, heart thumping as you raise your paddle in the air and bid on that house at auction.
Youve probably heard that buying a house at auction can get you a really good deal, but if youve never attended a foreclosure auction before, then you might not know the first thing about how to bid! Heres how to get your bid in order and how to bid on a house at auction so you can walk away as a homeowner.
Bonus Tip: Get An Advantage In Your Next Bidding War With A Verified Approval
In a competitive home market, you might need an edge over other buyers who want the same property. For the best chance at winning a bidding war, be sure to get a Verified Approval from Rocket Mortgage®.
When you get a Verified Approval, you give your lender access to more accurate information on your income, assets and credit. Youll share documents like bank statements and pay stubs with your lender so they can verify the data on your application.
Once your lender finishes looking at your documentation, theyll return a Verified Approval Letter to you. Your letter will give you a very accurate estimate of how much you can get in a loan because your assets have already gone through verification.
A Verified Approval Letter ensures a seller that you wont struggle to find financing. This makes your offer much more appealing, which in turn can mean the difference between winning and losing a home.
How To Bid On A House
Andrew Dehan7-minute readJanuary 20, 2022
Youve gotten preapproved for a mortgage, seen plenty of homes and finally found the perfect match. All thats left to do now is bid for the right to buy the property. When you bid, you submit an offer to buy a home. You may need to compete with other buyers offers before you can close on your loan and move in.
Whether its your first time buying a home or youre closing on your 10thinvestment property, it can be challenging to determine just how much to bid. Lets take a closer look at the bidding process and the best way to bid. Well also introduce you to a few tips you can use to win a bidding war if your home is in a hot market.
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How To Handle Multiple Offers As A Seller
If youre on the seller side of a bidding war, congratulations youre in the drivers seat. Picking the best offer can help the closing process go more smoothly and ensure you receive the highest possible price for your home. Heres what to consider when reviewing multiple offers:
- Prioritize cash offers. A buyer that offers to pay in cash means you, as the seller, wont have to worry about any potential hiccups with a lender.
- Look at the buyers overall financial strength. Dont look solely at the offer price. If the buyer isnt likely to get a mortgage approved for that amount or put up more of their own cash, you may have to start the process all over again with someone else.
- Review extras. Look for factors like contingencies and escalation clauses to see if any of these extras help sweeten the deal for you.
- Think about your homes value. Consider whether your home might appraise for a lower value than the selling price, because that would require the buyer to spend more of their own money. Heres where youll want to look at proof the buyer has the additional funds available, and the track record of the buyers lender. If you have the foresight, its smart to get your own appraisal before you even list your home so you can benchmark that against other valuations.
- Compare closing dates. If you want to move out as soon as possible, for example, a buyer who is willing to close on the deal faster may be a major deciding factor for you.
Register With South Tyneside Homes
- You will need your National Insurance Number
- Anyone over 16 years old can register, applicants under 18 will have their needs assessed by a specialist team
- If you need to move because of medical problems or illness, let us know in your application so that we can assess your needs
You can apply online on the South Tyneside Homes website:
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Buying A Home At A Foreclosure Auction
Planning on bidding at a foreclosure auction for the first time? Here’s how you can prepare.
Foreclosure auctions conducted on courthouse steps, in convention centers across the country and, increasingly, online can be intimidating. The trick to avoiding foreclosure auction pitfalls is to do your homework.
Get Your Bid Together
Most home auctions operate in cash, meaning you cant buy a house with a mortgage, though one exception to that rule is a HUD auction. Remember, though, says Monzo, These are typically distressed homes that dont have utilities turned on, so even if the auction allows mortgages, a lot of the time the mortgages cant close because of the condition of the home.
So, in nearly all cases, youll need to get your cash in order before the auction takes place. Its also not usually enough just to have the funds available you often have to prove that you have the financial means to bid on a house before you can register for an auction, so make sure you have proof of funds or some other documentation.
At a courthouse auction, for example, Monzo says you must have a cashiers check for the full asking price of the home. If you end up bidding over the asking price, the additional funds are due almost immediately, normally by the end of the day.
Youll also need your earnest money available after the auction, should you be lucky enough to be the highest bidder.
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Make A High Earnest Money Deposit
Clearly, the earnest money deposit is a crucial step in showing that youre serious about purchasing the house. Although the amount of money included in the deposit differs from state to state, its typically around 5%, though it can range from 1% 10%.
The more earnest money you offer, the more attractive your offer appears. However, you dont deliver the money until after your offer has been accepted or the purchase agreement has been signed. Therefore, if youre competing with multiple other offers, you must inform the seller that youd like to make a higher earnest money deposit when you submit your offer.
Include An Escalation Clause
As mentioned, there are only two ways to win a bidding war, offering more money or better terms than the competition. If youve made the terms of your offer as lenient as your circumstances can bear, its time to think more seriously about your offer price. Including an escalation clause in your offer can be the perfect way to try to ensure you win the house without paying more than its worth.
An escalation clause is an article added to the offer that enables the buyer to increase their offer up to a certain point in the event of a bidding war. Basically, the escalation clause says that the buyer will pay $X for the home, but if the seller receives a higher competing offer, the buyer will increase their initial offer by $Y.
Lets say you find yourself in a bidding war for a home that you think is worth $500,000. You decide to make an offer of $450,000 but include an escalation clause that states you will outbid any competing offer by $5,000 up to $500,000. If another buyer makes an offer of $445,000, your offer will automatically increase to $450,000. However, if someone later offers $500,500, which is over your specified cap, youd lose the bidding war.
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