How to get your offer accepted when you find the perfect property in a busy seller’s market
The property market is booming. There are a lot more buyers than sellers, which has pushed the price up, alongside the competition, when it comes to purchasing your dream home. But there are steps you can take to put yourself in the best possible position.
Instruct an estate agent
If you need to sell before you can move, at this moment in time, you will need to be on the market before any seller will consider an offer you make. Sellers, like yourself, won’t consider an offer if you’re not on the market, and unless you are under offer, you won’t be in a proceedable position anyway.
With so many buyers, you will be in competition with people who may already be on the market or already under offer, which will put you back before you even attempt an offer. However, the good news is that with so many buyers, you will never have a better chance of getting a good offer on your property in a short amount of time.
Talk to a financial advisor
Not only will a financial advisor find you the best deal available for a mortgage (for a fee) they will also be able to provide you with a mortgage in principle. Sellers are more likely to accept offers from people who already have this in place as they know the buyer has the funds in place ready to go.
At the same time, make sure you have all your paperwork available so as not to slow down the process once you make an offer. If you want to make an offer, an estate agent will request to see proof of funds and the mortgage in principle, if a financial advisor they know can already confirm these things, the process will go much smoother.
Be prepared to go over asking price
Now is not the time to play hard ball and make low offers. With so many buyers, most sellers no longer need to negotiate on their asking price and in fact, most properties are going slightly over asking price. If you enter into a long, drawn out negotiation, it gives another party the chance to sneak in and make an acceptable offer while you’re still negotiating.
For a FREE, no-obligation valuation, or to arrange a meeting with a financial advisor, please contact us today.
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