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How to make an offer on a house

19May Author: Dave Dyer . Date Posted: 19th May, 2017

It’s a wonderful feeling when you find your dream home and can picture yourself with the keys in your hand.

But before you get carried away, take a deep breath and think carefully about your next move. Here at Redrose we’ve put together a handy guide to help you through the process…

What’s your budget?

Talk to mortgage advisers to find out how much you can borrow. If you don’t need a mortgage because you’re a cash buyer, it’s still crucial to know how much you are able ‒ and willing ‒ to spend.

Have you done your homework?

The house may have stolen your heart but it’s important to do your research so you know what it’s really worth. Does it need repair work?  How much are similar properties in the area selling for, and how quickly?  And is the owner looking for a quick sale?

What if someone else is interested in the same house?

Show the seller that you’re in a good position to proceed with a sale. Get a mortgage agreement ‘in principle’ before you make an offer. And if you’ve already accepted an offer on your current home, even better. The seller will be looking for a reliable buyer with the funds in place.

Plus, if you’re a cash buyer and not in a chain, you’ll be an even more appealing prospect.

Whenshould youput in an offer?

Once you’ve done your research and are clear on your budget, you’re ready to take the next step ‒ to make an offer. But how much?

If the property isn’t overpriced and has everything you want, you could consider offering the asking price.

Another option is to offer below that amount, especially if the house is in need of repairs, it’s been on the market for a long time or the seller is looking for a quick sale. But think carefully before putting in that cheeky offer because going too low risks putting off the seller completely.

Tell the estate agent the amount you want to offer over the phone or face-to-face, and you could also put it in writing.

What’s a good estate agent’s role in the process?

At Redrose we’ll be there every step of the way to help you get the keys to the house of your dreams.

We’ll do the hard work of negotiating between you and the seller, and will keep you informed throughout the process. If other offers are made on the property, we’ll let you know, so you get the chance to put in another bid, and secure those keys.

Click here to search our houses and flats for sale. Or do you want to sell? Call us on 01257 547061 for a free valuation, or click here to request a call back.

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