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Selling your property? Would you accept a lower offer? back

26/09/2017


Selling your property? Would you accept an offer of the asking price or lower, if the buyer was in the position to proceed straight away?

According to new research, nine out of ten people in the process of selling their house would be more inclined to prioritise buyers who are chain free or already in the position to proceed, over buyers proposing a higher offer.

Good news? It is good news for those selling, as due to the current shortage of homes, vendors can afford to be picky, ensuring they secure the best all round offer for their property. ‘All round’ in this case, refers to prospective buyers putting forward a good offer, in addition to holding a strong position in terms of chain and finances. Vendors are now valuing quality over quantity, buyers who are in a secure position, minimising complications, alleviating any fears the vendor may have, and ensuring the whole process runs as smoothly as possible.

Good news for the buyer, as research states that more than a fifth of vendors are now accepting offers that are 5% lower than the asking price, providing the buyer has no chain and already has finances in place. Therefore, if you are already at the ‘buyer ready’ stage, you will find yourself in the hot buyers’ category, without having to increase your offer above the asking price. Once you are in this category, estate agents are more likely to recommend buyers who are best placed to proceed first, therefore setting you up in a good position to find your dream property.
 
Top Tips – Getting your offer accepted

PREPARATION

Ensure you have all your finances organised in advance. This will demonstrate to the agent that you are ‘ready to go’ which will encourage them to willingly put you forward. This will also reassure the vendor that you are in a strong position.

FUSS-FREE

If you are in the fortunate position of being chain free, this will demonstrate to both the vendor and agent that there will be minimal complications. If you are not, consider moving into rented accommodation in order to break the chain and secure your dream house.

DECISIVENESS

Demonstrate to both the vendor at the agent that you are clear and serious about the transaction.

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