Falling in love with a dream property is something that most homebuyers will experience, but there is always a risk that your property offer won’t be accepted and you’ll lose out.
NAEA Propertymark (the National Association of Estate Agents) has a few simple tips that you can follow to help you secure your perfect property, whether you’re a landlord, home mover or first time buyer…
Katie Griffin, the President of NAEA Propertymark, says: “Finding your dream property is no mean feat, but, when you do eventually find it, the biggest task is keeping hold of it. It’s really important to try and connect with the seller or agents involved, but keep a clear head and make a strong case for why the seller should choose you. An ideal buyer will show that they have done their homework, are clear about how quickly they can move and that they are taking the process seriously.”
Become an expert
Top Tips to make sure your Property Offer is Accepted
Before you place a property offer, do your homework so that you can go into the process comfortable and confident. There is lots of information available on the internet about the home buying process and the local area, so take advantage. Look into what similar properties in the area have sold for, so that you’re confident the price you’ve offered is the right one.
Get your finances in order
Confirm that 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 must verify your ID before solicitors are instructed, so remember to take 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.
Make your position clear
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.
Building a relationship with your estate agent will help to ensure that you’re getting the best possible advice regarding your purchase. Try to go into their offices rather than having a phone call, and sit down with them face-to-face to discuss your requirements.
Vendors are busy and don’t want to deal with time-wasters. If you like the look of a property, don’t dawdle – be the first to book a viewing. Being proactive is one way to show the seller that you’re a serious contender.
Find the right price
Although a bit of negotiating is to be expected, don’t go too low. This can cause tension with the vendor, and you may end up losing the property altogether if someone else offers a higher bid. You should also try to avoid round numbers, to prevent making the same bid as someone else.
Protect your purchase
Once your property offer has been accepted, ask for the home to be taken off the market straightaway. This can minimise the chances of additional offers coming in over and above yours, and finding that you’ve been trumped.
If you or someone you know is planning to make a property offer in the near future, make sure they stick to these top tips!