Guide to putting forward an offer
Once you have found “the one” and wish to put forward an offer, we will talk through your position and financial situation in more detail, such as chain details if your own property is under offer.
I am legally obligated to put forward any offers received however I will have a good idea of what is likely to be accepted and there is no use messing around with silly offers. Ultimately it is the seller’s decision on who they sell to. In the event of multiple offers they may not even choose the highest offer. For example, if a vendor needs to move quickly, they may go for a cash offer rather than someone who is in a chain as this can always become complicated and cause delays. That doesn’t mean that cash buyers are always able to offer a lesser amount to secure a property.
Other considerations should be:
Time on market; if a property has been on the market for a while, they may be more motivated to sell and willing to negotiate on a lower price (not always the case)
Seller’s position; have they already found a property to move to or are they moving overseas for example? It is important as your time scales need to align with each other
Other potential offers; if there has been significant interest in the property it is likely there will be other offers for the seller to consider so you want to be in a strong position if possible (i.e in rented or first time buyer/chain free) or make an offer to compensate a slightly less favourable position (i.e. on market but not SSTC or under offer but in a lengthy chain)
I get to know my vendors as well as I can. So please talk to me if you would like any guidance on putting forward an offer so we can agree a deal everyone is happy with!
Congratulations your offer has been accepted! You are now on the way to buying the property, however there is so much that can happen along the way so be prepared for setbacks.
The best piece of advice I can offer you here is to choose your solicitor wisely!!! Ask around for recommendations of local, experienced solicitors rather than seeking to save a few pennies. If your estate agent is recommending a conveyancing firm, please do your own research on the company as often they are not local or particularly skilled and are recommended based on how much of a kick back the agent receives in commission rather than the quality of the service they offer.
Once you have chosen your conveyancing solicitor, you will need to instruct them and inform the selling agent straight away to get the ball rolling.
Please ask me for my recommendations, I only work with the best (after all my livelihood depends on sales going through so no one is more motivated than me to get to completion day as soon as possible)
Be sure to check out my next blog on the conveyancing process!