Bridges: Be in the best position to negotiate and make an offer

Bridges logoBridges Estate Agency is a independent agency specialising in Saddleworth, Mossley and surrounding areas with a professional and dedicated service. 

Find Bridges Estate Agency at 63 High Street, call 01457 871845 or visit www.bridgesestateagent.co.uk

Negotiating and making an offer on a property

AS THE property market has become more buoyant, it is imperative you are ahead of the game and in a strong negotiating position when offering on a property.

It is always advantageous to have your financial arrangements in place, especially when offering on a house that has gained significant interest. This can be an Agreement in Principle from your bank or finances from a previous house sale.

The next stage is to know and stay within your budget and it is also of great advantage to have a strong awareness of the prices of the properties in the area and to have identified similar properties and the speed with at which they sell. This will help when you are negotiating with the vendor.

If the vendor is not in a hurry to move, they are more likely to wait for higher offers.

Importantly, once you have offered on a property, ensure you are clear as to whether your offer has been accepted “subject to survey” or accepted “not subject to survey” as this could make a significant difference in whether you follow through with the sale.

If you submit an offer “subject to survey”, this would usually give you the opportunity to renegotiate if the survey shows work is required to gain a mortgage.

If the sale price has been agreed “not subject to survey” then any works required on the property will be met by you. In either instance, if works become too costly, you may decide not to proceed.

We would strongly advise any prospective buyer to be well prepared before making an offer on a property.

Buying a property can be both exciting and rewarding and having your finances ready to go and a good knowledge of what you are offering on will be invaluable when your dream house comes along.

Be sure to keep an eye out for new properties to the market on our website at www.bridgesonline.co.uk

 

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