How Do I Get My Offer On A House Accepted?
From getting your finances in order, to choosing your conveyancing solicitor, here is how to be in with the best chance of having your offer accepted.
21 July 2021
In what has been the busiest year in property since 2007, with demand by far outstripping supply, buyers are finding themselves fighting to be chosen from a selection of other buyers in one of the most competitive markets in years.
If you are hoping to make a move in the near future, you will no doubt find yourself against some stiff competition so here are our top tips for making sure that your offer is the one that’s accepted.
For a free conveyancing quote, contact Conveyancing Expert today. Our team is available to answer any questions you have and to guide you through the conveyancing process. We are your dedicated solicitors on hand for all your needs when moving house.
How Do I Get My Offer On A House Accepted?
There are a number of things you can do to make yourself the most appealing buyer to people wanting to sell their homes. Here are the most important. They are all things that you can prepare well in advance so take a look and see how to be in with the best chance of netting your dream home.
Have A Clear Budget
Before you consider making an offer on a house or flat, it’s important to know what your exact budget is. In fact, you should really do this before you even start looking at property. This will show you are a well prepared, realistic prospect to sellers. Too many buyers fall in love with a property they simply cannot afford, which only leads to disappointment and wasted time.
Make sure you know exactly what you are able to spend before entering the market. Speak To a mortgage adviser as they will be able to assess your affordability more accurately and give you a guideline on your borrowing status prior to beginning your search. A good broker will tell you how to improve your credit score and if you’re a first time buyer, lots of sellers will take a 10% deposit.
Get Your Mortgage Agreement In Principle
Make sure you have a good deposit as that will help to open up the best mortgage products. Also, if a seller has two bidders and one has a 20% cash deposit and another has a 30% cash deposit, they may choose to go with someone who seems more financially sound.
Furthermore, if you’re able to put down a 20% deposit, the rates are much better and the range of products available is massive.
Buyers who have secured a mortgage agreement in principle, or AIP, are usually considered more serious buyers and are usually favoured by sellers. The perception is that they are in a better position to proceed and less likely to pull out.
Know The Market
Take a look at the local market. This will give you an insight into whether or not your prospective new home is fairly priced. Look at similar properties within the area, are they in the same ballpark as the house you want to make an offer on?
Currently listed properties will give you a great idea on what the market is doing right now, but don’t forget to look at completed sales as well. Many of the major property portals will allow you to search for recently sold properties.
Do your homework on the location and surrounding area if you aren’t familiar with it. It can show your appreciation of the property and its surroundings to the agent and seller and can help you to work out what questions to ask, making your viewing more productive.
Speak To Local Estate Agents
Speaking to local estate agents selling the properties you like is a must, too. While they are of course working for the seller and not you, there is a lot you can do to make yourself a favourable prospect without the agent compromising their client.
It is not always necessary or even advisable to simply use the solicitors the estate agents suggest for moving house. Conveyancing Expert offers high standard yet low cost conveyancing for all clients looking to buy, sell, remortgage and transfer equity in England and Wales.
Ask your estate agent questions such as:
- Why has the seller put the property on the market?
- Are there many interested potential buyers?
- Has the property attracted a lot of interest?
- How long has the home been on the market?
- Are there any offers on the property?
- How long is the chain?
- How fast are the sellers looking to move?
- Are they reliant on a purchase themselves?
- Is the seller open to offers?
Knowing these things before you even view shows how interested you are and that you have gone to the effort of finding out all you can.
Also, explain to the agents who you are and tell them your reasons for moving, that will help them understand you and will come across well. Showing that you’re in a good position financially is vital too. It’s important to highlight the strong position you are in and why you are the ideal purchaser.
Whether you're buying or selling, speak with local estate agents to get expert market advice.
Find A Conveyancing Solicitor Now.
It is always a good idea to get a conveyancing solicitors in place for moving house, so you are all set and ready to go. This will ensure there are no hold ups when you are ready to go and will show sellers that you are serious about getting started with the sale.
Conveyancing Expert are your local conveyancing solicitors in Manchester. We can give you a completely obligation free conveyancing quote today,
In An Ideal World...
The best buyers have:
- Sold their home already or are chain-free
- Instructed a mortgage broker
- Have instructed a solicitor
- Their paperwork in order
- A good cash deposit
- Done all the relevant affordability checks
- Done their research
How Conveyancing Expert Can Help
- As a team of legal professionals, we are dedicated and honest and work in accordance with our culture statement, to ensure that every client benefits from our expertise, and is delighted with the legal service provided to them.
- Our services are always high in quality, value for money, and we embrace the most effective case management systems to ensure smooth transactions and happy clients.
- Whether you're buying or selling, speak with your conveyancing Expert today to get more expert market advice.