Property:
Making
an Offer
Before jumping in and making an offer check out these useful hints on
making an offer.
Viewing
again
It is wise to always view a house for a second time if you are interested
in making an offer. You notice things that you didn`t notice before.
Take a long any children that you have or a partner that you are buying
with. You could also take a long a friend or family member for their
point of view. By the end of this visit you will know for sure if you
want to by the home or not. Get to know the neighbours and get a better
feel for the neighbourhood.
Making
an Offer
If you are 100% certain that you still want to buy the house after your
second viewing then you should start talking to your Estate Agent as
soon as possible. Even if you leave it for a day you may be a day to
late. Familiarize yourself with how offers become contracts. An offer
is not legally binding except in Scotland.
What
is the right price to pay?
Is it really worth the asking price? Have a look at other properties
in the area that are similar and check out their prices. If there is
a lot of houses for sale in the area that are of similarity this is
good for business as you have more choice to choose from and the seller
will also know this if they have done their home work. If they haven`t
point it out to them that there are plenty of other houses on the market.
Buyers never pay the asking price and nor should you. If the price is
£75,000 put in an offer for £72,500. Remember only pay what
you can afford to borrow.
Take
into consideration what additional work (& costs) may be needed.
Find
out how long the house has been on the market by asking the estate agent.
A house that has been for sale for a while puts the buyer in a much
stronger bargaining position.
It
is often worth offering a lower price anyway to judge the sellers reaction.
Make
sure your offer is "subject to survey and contract"