When you find a suitable property, consult your agent about how to proceed. An offer is about more than just money; you will be asked to provide details of:
•Your buying position
• Proposed timeframes
• Any inclusions (curtains, carpets, etc)
• How you propose to fund the purchase
• Evidence of your mortgage agreed in principle
• Details of your Agent if you have sold a property
• Have you engaged a solicitor and is so what are their contact details
• The seller will expect us to obtain all of this information as it will aid them in their decision making.
Remember, to be sensible. Many vendors could be put off completely by a “cheeky offer” that is significantly below the asking price. If they feel insulted, they may simply refuse to negotiate with you. After all, the vendor is in a position to make the choice about whose offer they will accept.
First-time buyers, buyers without a chain and cash buyers are often in a favourable position because they are seen as safer bets: these sales are more likely to reach the completion stage quickly – so let your agent and vendor know if you fall into one of these categories. There are no legal obligations on either side until contracts are signed.