Once you’ve found your perfect property, you will need to submit an offer which we’ll put forward to the seller, both verbally and in writing. You may need to demonstrate that you can proceed by providing evidence of your mortgage agreed in principle.
How to decide on your offer
How much you offer is up to you and may depend on how busy the market is. In a slow market, you may be able to get away with a lower offer, particularly if the property has been on the market for a while. However, if the market is booming and/or you have lost out on another property, you may decide to offer the full asking price. Your buying position will also affect the sale negotiations; some factors will be to your advantage:
- If you are not in a chain, the seller will feel more confident that you can complete the purchase without undue complications
- First time or cash buyers will also be an advantage
- If you have sold your own house, subject to contract, your offer should be taken seriously
What to do if your offer is rejected
You can put in a higher offer, but it’s not a good idea to get involved in a bidding war. You don’t want to end up offering a lot more than the house is worth.