With all highly valuable purchases, strategy and persistence are key in securing the deal. If you’re wondering how to make an offer on a house that simply can’t be refused, we’ve come up with some advice and tips to get you started…
How can I prepare to make a good offer?
Before making your offer, you’ll need to put in some research and preparation at the start of your search and when you first meet the vendor or estate agent showing you around.
You can start by researching the local area to see how much other listings have been selling for. It’s important to understand the current market climate so that you can make the right offer on a house and give yourself a better chance of securing the property you want.
During the viewing you’ll be assessing the property to see if it’s suitable for your lifestyle, needs and budget, and chances are, the estate agent will be doing the same. Most estate agents will look for any signs that you could be willing to pay the full asking price or very near it. Therefore, try to save any ecstatic enthusiasm for the car ride home, as revealing all to the agent will alert them that you may be willing to pay more to secure the property.
What is a sensible first offer on a house?
Your first offer should not be your final offer. The first thing you should work out is your budget, and the most easy and accurate way to do so is to apply for your mortgage first. The maximum mortgage you can comfortably afford, plus your saved deposit, is your budget. Once you’ve established your means, it is important to consider the current market conditions. In today’s market, buyer demand levels are still strong, and many sellers have the choice of picking from several offers; bear this in mind when you make an offer on a house.
It’s also important to make an informed decision and understand why the property has been listed at its current price so you can make a sensible offer on a house. How long has the home been on the market? Does the owner have a time-sensitive reason for selling? Does the property require work? These are a few of the many factors to consider, which could put you in good stead if you made your offer based on them, rather than assuming that the seller is asking too high.
With many buyers still on the hunt for their dream home, it is important to act swifty if you find a property that ticks all of your boxes, this will help to avoid disappointment later down the line.
How do I make a successful offer on a house?
If you find a property you like, get in touch with the estate agent or the vendor themselves to make an offer. It’s good practice to follow up a verbal offer with a written one, typically by email. This shows that you’re interested and enables your offer to be referred to later, which avoids any confusion or miscommunication.
Your email should include:
- The price you are willing to offer
- Your full name, address and contact details
- A brief overview of your situation (Possible move-in date, availability for correspondence, whether you’re in a chain, etc.
Additionally, you can write a brief introduction to yourself and your family for a personal touch that stands out.
If your offer is accepted, the agent
will inform you as soon as they can, and you can begin the process of buying your new home.
Looking for your dream home? Use our tailored property search tool to find your perfect home and book a viewing online.
