Whenever people sell their homes with us at Forbes Estates one of the questions which nearly always comes up from them is – How do I respond to offers?
Below is our five point advice on what you need to consider when deciding whether it’s an offer too good to refuse.
An accurately priced and professionally marketed property in an excellent location will attract viewings and offers very quickly from your agent.
The ideal scenario is people want your property so much they offer the asking price. If buyers are competing for your property, this will allow you agent to negotiate harder and drive the price up yet again over the asking price.
However, there are a number of factors to consider aside from which buyer is willing to pay the most.
1. What’s their situation? Your agent needs to give you as much information as possible about the people making the offer. Do they have a property to sell, are they currently on the market? Are they Cash Buyers? Would they be in a chain if they did?
2. Do they have a mortgage offer already approved? Have they a solicitor? The ideal buyer is a cash one. This scenario often sees the whole process take far less time for the solicitors to complete.
3. As the seller, you are often in the strongest position, but always treat the buyer the way you like to be treated.
4. The ‘offer’ part of the property process is where a good estate agent proves their sales and negotiation value. So you should have a relationship with them which means you are in constant contact and that you feel totally informed of what’s happening.
5. Remember that accepting an offer is just another part of the process and there are a few more hurdles to overcome in terms of surveys, local searches and conveyancing enquiries. Make sure you instruct a good solicitor not he cheapest solicitor as this can be a timely process and most good local solicitors seem to work swifter than others. If you would like a list of our recommend solicitors please message us at Forbes Estate Agents.
Thanks for reading and if you have any property related questions or thinking of Selling or Letting you home, please don’t hesitate to get in touch with us, tel 01257 273 324, email info@forbesestates.com or direct message us – we’d love to help and advise you on the local property market.
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Best regards
Paul
