One of the recurring questions we get asked by people selling their homes with us is ‘Should I accept this offer?’
This is often followed quicker than Lewis Hamilton in pole position with “Ok then, so what’s an acceptable offer?”
The truth is it depends on many factors. It is important to consider the state of the property market, the length of time the property has been up for sale, and - if properties in your road have sold recently- what price did they achieve? Another key question is do you need to sell the property quickly?
You also need to know how serious the people making the offer are about purchasing your property. Do they already have a mortgage offer in place? If they say they do, ask for proof. Are they relying on selling a property so they can purchase yours? If so have they accepted an offer on their home?
Currently it’s a seller’s market. Many of the homes we have sold recently have gone for the asking price and in some cases above it. Part of our service for customers selling with us but buying out of the area is the promise of free advice on making an offer when they’ve found a property they are interested in.
All of the above also plays a factor in making an offer. One thing to avoid is making an offer which is far too low. You risk alienating the seller completely and they’ll be put off dealing with you if they see your offer as derisory or insulting.
Thanks for reading,