Congratulations – you’ve finally found the ideal property and a new place to call home! The next step is to make an offer that’s accepted. The price looks right to you and you know the market is competitive so you want to secure your dream home as swiftly as possible.
Antony Gibson, Director of Sales at Romans, shares his four top tips for making a successful offer on a house:
1. Confirm how much you can afford
This step should really be taken before you start your home hunt. Arrange an appointment with an experienced Mortgage Adviser to discover exactly what you can afford. Bear in mind that most properties sell for their asking price, or close enough to it, so as soon as you know what you can afford you can focus your search on the right properties.
Getting a mortgage pre-approval is one of many steps that will show home sellers and estate agents that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
2. Be prepared to act quickly
Buyer activity has already returned to pre-Brexit levels and house prices have started their inevitable rise. In September, Rightmove reported an 8% increase in buyer activity compared to this time last year. So, with competition increasing you need to make sure that as soon as you decide you want to make an offer you work with your estate agent to present it as soon as possible; any delay for a desirable property is likely to result in disappointment.
3. Make a solid offer
Whether it is the first house or the 10th house you see, if it meets the majority of your criteria then make an offer. Your estate agent will have extensive knowledge of the local property market and their expertise will help you make a strong offer. This is based upon recent sales of similar properties in the area, the condition of the house, what you can afford, and the seller’s situation.
4 Be prepared for negotiations
The most likely things to be negotiated are the selling price and the moving date. Your agent will play a key role in the negotiation stage and provide guidance to ensure all of the contract terms are met.
If negotiations have stalled and you are questioning whether to offer more, then ask yourself ‘if I learn that the house sells for a price I would have been prepared to pay, will I regret that I didn’t offer more?’
Once your offer is approved Antony urges you to invest in a property survey so you know the true condition of what you’re buying.
If you’re thinking of moving soon and you’d like more advice on a smooth property purchase please talk to the team of experienced agents at your local Romans branch on 01344 985 666.