Home Buying Tips - Offers!

Once you’ve narrowed down your list and have a clear favourite, it's time to make an offer on a home. Some of the most common questions buyers ask are answered below.

Q1. What should I include with my offer?

Your position - First and foremost, sellers want to know you are able to proceed. Before making your offer make sure you are able to put yourself in the best position by having a mortgage agreed in principle and also solicitors instructed. This shows your motivation and intent to a seller.

Price and terms – When making an offer, make sure your terms are clear from the beginning. For example, if you would like all the white goods in the kitchen to be included in the price you want to pay then make that a condition of your offer. A seller is far more likely to agree to any terms and conditions at this stage when negotiating the price, as opposed to further down the line when the price is agreed. 

Q2. What happens if I face multiple offers?

In a competitive housing market, you may find yourself competing against other buyers. If there’s more than one offer, the sellers can either accept the best offer or choose who they feel is in the best position. What usually happens is that they counter all the offers to get a better price by asking for best and final offers. This process is handled by the estate agent who will ask all interested parties to produce their best and final offer by a certain time in an email also confirming any terms and their position.

Q3. What is a counter offer? 

Sellers can accept your offer as is or they can make a counter offer on the price with a figure they are willing to sell for. You can accept or reject the counter offer and make your own counter offer. The sale is agreed once you and the sellers have agreed on the price and any additional terms or conditions.

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