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Offers
OffersAfter you have had a number of viewings the hope is that one of the potential buyers will put an offer in on your home. Once someone makes an offer, you need to find out the position of your buyer and what their intentions are on how quickly they want to move. A speedier sale makes a safer sale, as it helps avoid the sale falling through.
It will be useful to ask the following questions:
1. Is your buyer in a chain?
2. If so, how many people are involved?
3. Does the buyer have a property to sell?
4. Do they have a mortgage agreed in principle?
5. What is their moving timescale?
If you are in the situation where the offer is low, and your property has been on the market for a long time, you need to ask yourself three important questions:
1. Is the potential buyer likely to increase their offer?
2. Can you afford to wait for a better one?
3. Can you afford to loose this offer?
This is probably where negotiations will start. Take the advice of the estate agent and hopefully a price will be agreeable to both parties.
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