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Tips For Making An Offer On Your Dream Home

Uncategorized   |   June 28, 2022   |   declan

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Moving house is an incredibly exciting process and searching the property market for a new home to buy can be lots of fun. However, as soon as you’ve found your dream home, it’s likely that you will want to put an offer in straight away and do all you can to prevent it from being sold to someone else. The property market can be very competitive and there is always a chance that you will lose out on a property you love to another buyer.  

 

Thankfully, there are some things you can do to increase the likelihood of your offer being accepted and the purchase going ahead. To assist any prospective buyers, our experienced team of estate agents have put together a list of tips that can help you to make sure you have the best chance of securing your dream home. 

 

Don’t be offensive with your offer

 

It isn’t abnormal for prospective buyers to offer below a property’s asking price. In fact, it’s often recommended that your first offer is lower, enabling you to increase your next offer if the first isn’t accepted. However, you shouldn’t push your luck and put in an offer that is much lower than the price the property is on the market for. This can offend the seller and prevent them from accepting any of your offers in the future, especially if the property hasn’t been on the market long. Ideally, speak to an estate agent and get some advice about the best price to offer.

 

Make sure the estate agent knows you’re serious 

 

When a property is on the market, not every buyer that shows interest will be serious about making the purchase and it can be beneficial to ensure an estate agent knows you are keen to buy this particular property. There is nothing wrong with being enthusiastic about a property you love and if an estate agent knows you’re eager to go ahead with the purchase, they can pass this information on to the seller. 

 

Get a mortgage agreement in principle 

 

Preparing for the purchase of a property before you even put an offer in can make you a much more attractive buyer. You should take the time to sort important documents and apply for a mortgage agreement in principle, as doing so can increase the chances of you being favoured by a seller. Ultimately, having a mortgage agreement in principle proves that you’re able to purchase the property and it will put you in a much stronger position when you make your first offer on your dream home. 

 

Consider breaking the chain 

 

Generally, the most desirable buyers are chain free and if you’re selling a property, you should consider breaking the chain. There are a few different ways to do this, for example; you could sell before you buy, increase your existing mortgage to use as a deposit or get a bridging loan. Breaking the chain will prevent a seller from having to wait around for you to sell your property and when their sale isn’t dependent on your sale, they will be more likely to accept your offer. Of course, the buying process will likely be less stressful when you’re not in a long chain too.  

 

Have a solicitor on standby 

 

Similarly to getting a mortgage agreement in principle, instructing a solicitor can help to make you a more attractive buyer and it’s another way to show a seller that you are serious. When you have a solicitor on standby, as soon as your offer is accepted, you can get started with the conveyancing process and there won’t be any waiting around. So, do some research into local solicitors and get in touch with someone about your prospective purchase. 

 

Looking at houses for sale in Hunsdon Herts?

 

Hopefully, the information above will help you to ensure that once you’ve found your dream home, your offer gets accepted and you don’t miss out on the purchase. If you’re yet to find the property you want to buy and you’re still looking at houses for sale in Hunsdon Herts, contact us at Wright & Co. We have been offering properties within the villages along the Hertfordshire and Essex border for decades now, and we will be happy to help you find your dream home. Our brilliant selection of properties, as well as our wealth of knowledge and exceptional customer service, make us the right choice to help you buy. Feel free to explore our website today to find houses for sale in Hunsdon Herts. 

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