Property & Conveyancing: Making an Offer

September 11, 2017  |   Posted by :   |   Blog

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Making an offer on the home of your dreams is nail-biting stuff. What if your offer is refused? What if someone gazumps you? What if the whole thing falls through at the last minute? What happens if you change your mind?

Research has shown that buyers can make the decision to buy in as little as ten minutes, but it’s important not to race ahead and let your heart overrule your head when it comes to making an offer. Follow our top tips below and maximise your chances of getting the property you love:

First things first: do your research!

You might be 99.9999% sure you want to make an offer after the viewing, but make sure you’ve done your homework and made some vital checks first. Look at the price of similar properties in the area, and question your estate agent about the seller, the property and their situation. Are they in a hurry to sell? Do they have survey information to hand? Are there noticeable repairs that need doing? All these clues will tell you whether you can get away with offering a lower price, or whether you’re likely to be competing with other interested parties.

Get your affairs in order 

Having all the requisite legal and admin paperwork ready to go is a major plus, so get in touch with your solicitor as early as possible to organise surveys, manage conveyancing issues and the payment of fees. Show the seller you’re serious about your offer by securing a ‘mortgage in principle’ from your lender or letting them know you have your deposit ready and waiting. Bonus points if you’re a first-time buyer or have no chain to worry about!

Make it personal  

Meet the seller face to face if you can, and have an honest conversation about your situation and your eagerness to put in an offer. They’re more likely to remember you on a personal level afterward. Plus, you’ll have the opportunity to discuss any negotiations on price, and reassure them that you’ll take good care of their beloved home when they move on…

Protect your offer 

Before making an offer, make it clear to the estate agent that if it’s accepted you expect the property to be taken off the market to prevent another buyer attempting to ‘gazump’ you at the last second. As a gesture of goodwill, you could also offer a modest deposit to show that you’re serious about the sale.

For more property and conveyancing advice from our experienced team – and for a FREE online conveyancing quote – get in touch with us at Frances Lindsay & Co. We can help you find your perfect home and get a great price for your property. Let us take the weight of the legal issues off your shoulders while you focus on making yourself at home…

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