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How to handle offers on your property – in Five Steps


Wed 7 Jun 2017

Seths Keys

 

Whenever people sell their homes with us at Seths one of the questions which nearly always comes up from them is – How do I respond to offers?

Below is our five point advice on what you need to consider when deciding whether it’s an offer too good to refuse.

An accurately priced property in an excellent location will get offers very quickly.

The ideal scenario is people want your property so much they offer the asking price. If buyers are competing for your property, this will drive the price up yet again.

However, there are a number of factors to consider aside from which buyer is willing to pay the most.

1. What’s their situation? Your agent needs to give you as much information as possible about the people making the offer. Do they have a property to sell? Would they be in a chain if they did?

2. Do they have a mortgage offer already approved? The ideal buyer is a cash one. This scenario often sees the whole process take far less time to complete.

3. As the seller you are often in the strongest position, but always treat the buyer the way you like to be treated.

4. The ‘offer’ part of the property process is where a good estate agent proves their value. So you should have a relationship with them which means you are in constant contact and that you feel totally informed of what’s happening.

5. Remember that accepting an offer is just another part of the process and there are a few more hurdles to overcome in terms of surveys and conveyancing.

Thanks for reading and if you have any property related questions please don’t hesitate to get in touch with us – we’d love to help you.

To get in contact, e-mail me directly at ravi@seths.co.uk or call 0116 273 9090 and lets have a chat on how we can work together!

Thanks for reading,

Ravi Seth

Managing Director

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Seths Estate Agents Ltd, Registered in England & Wales. Company No. 3842698. Registered Office: 157 Evington Road, Leicester, LE2 1QL.
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