“How Do I Go About Making An Offer On A Property?”

So, you’ve found a property you love – great! Next step is to put in an offer.
Here’s our advice on how to go about making an offer…

Before you even make an offer, you need to take into consideration all the factors and ensure that the property is right for you.

Firstly, create a checklist.
Write down all of your most important requirements and tick them off as you go along.
E.g.: Nearby Primary School; Four Bedrooms; Large Garden; Driveway. 

Secondly, consider extra costs that could occur.
You may love the properties current state or, you may feel it’s in need of refurbishments. If these refurbishments are a necessity than factor in how much this is going to cost you in the future – you don’t want to spend every penny you own on buying the property and be left with nothing!
On the other hand, if you feel that the property is in need of a lot of work, you could see this as an opportunity to negotiate on price.

Thirdly, consider factors that could give you the upper hand. 
Never presume you’re the only one interested! You need to ensure that your offer stands out to be accepted.
E.g.: “I’m a first time buyer”; “I’m a cash buyer”;  “I have a pre-arranged mortgage offer”. 

Finally, do your research on the seller.
Don’t make an offer before you’ve researched the position of the seller themselves. The property you’ve fallen in love with may have infact been on the market for a while and as a result the seller may be willing to accept a lower offer. It’s a common occurrence for seller’s to reduce their asking price if the property isn’t shifting! On the other hand, if the properties only recently been advertised on the market, the seller may hold out for a higher offer – and you don’t want to be beaten!

 

Good luck with your offer!

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