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MAKING AN OFFER

You’ve found your dream property and now need to decide on how you will progress with making an offer – or the scary bit!

Deciding on placing an offer

You should consider what the property is worth to you and if it meets you needs and wishes. A question to ask yourself is what you would have to change and how much would that cost. If it ticks all the boxes it may be worth offering the asking price. You should try to understand the seller’s circumstances and how open they would be to offers under the asking price. The estate agent can confirm if any other offers have been made. You can research the property value by viewing similar properties on the street and the value they reached.

If you’re a cash buyer of first-time buyer you should make the agent and seller aware as this can often be an advantage in negotiations.

Questions to ask

- How many other people are interested in the property

- How long the house has been on the market

- How quickly the seller needs to sell

- Are you part of a chain

Making an offer  

You can make the offer to the agent that is subject to a survey and getting a mortgage.  If you are offering the full asking price, then it is best to ensure that they take the property off the market and agree a date to work towards completion. If the offer is below the asking price it’s often worth stating the reasons for this for example this may be due to repair works you need to take into consideration.

Accepted offer  

Once the seller has accepted your offer, you can ask them to take it off the market.