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Get Your Offer Accepted

Sunday, September 17, 2017

Falling in love with your dream home is something most buyers will experience, but there is always a risk that your offer won’t be accepted and you’ll lose out. With the current market showing that there is less properties coming onto the market at the moment there is some serious competition between buyers, so how can you make sure your offer stands out and wins you the house of your dreams? 

The Property Reporter shared a few of NAEA Propertymark's simple tips you can follow to help secure your perfect property.    
 
Become an expert

Do your homework before you place an offer so you go into the process comfortable and confident. There is so much information available on the internet about the house buying process and the local area, so take advantage of this. Look into what similar properties in the area have sold for so you’re confident the price you’re offering is the right one.

Get your finances in place
Confirm you can get a mortgage and have enough money for a full deposit before you start your search; there’s nothing worse than falling in love with a property you can’t afford. Estate agents will need to verify your ID before solicitors are instructed so remember to bring in your passport and a utility bill to provide your proof of funds. Estate agents shouldn’t accept an offer without confirmation that the prospective buyer has their finances in place.
 
Stress your position
First-time buyers with no chain make for attractive buyers. Your seller may be looking to move as soon as possible and if you’re in a good position, you should make that clear as it will make you more attractive than other potential buyers.
 
Build relationships
Building a relationship with your estate agent will help ensure you’re getting the best possible advice about your purchase. Try and go into their offices rather than having a phone call, and sit down with them to discuss your requirements so that later down the line they can put a face to your name.
 
Act quickly
Sellers are busy and don't want time wasters. If you like the look of a property, don't dawdle – be the first to get a viewing. Being proactive is one way to show the seller you're a serious contender.
 
Putting a price on it
While a bit of negotiating is to be expected, don't go too low. This can cause tension with the seller and you may end up losing the property altogether if someone else offers a higher bid. You should try to avoid round numbers to prevent yourself making the same bid as someone else.
 
Protect your purchase once accepted
Once your offer has been accepted, ask for the property to be taken off the market straight away. This can minimise the chances of additional offers coming in over and above yours and finding you’ve been trumped.

In addition we would also advise that you find out what is the perfect outcome is for the seller and see if you can help make that happen. There are many sellers for example who want to also find their perfect house and once they are under offer appreciate the time to do that. Don't assume that all vendors want the quickest sale as possible. Sometimes in the effort to be taken seriously the emphasis is placed on speed but infact the seller can interpret that as pressure for them and a more sedate pace would suit them better. Make sure you communicate with your estate agent and have an open and honest conversation about what will be a win win process for everyone concerned. 

Happy house hunting! 

Article taken in part from www.propertyreporter.co.uk

Important Information
All property sales and the financial advice that surrounds them are as unique as the people engaging in the transaction. It is important to not make a decision without seeking professional advice. If you want to sell your home and are considering redecorating before marketing, speak to one of our Property Professionals to get the best advice for presenting your home for sale before making any investment.   
 

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