How to make an offer on a property

Before diving in, understand the property's true value. While only a survey can give a concrete number, look at similar properties in the area that have recently sold. This should give you a good benchmark for your offer.

Next, you want to investigate the property itself. Research potential issues like subsidence or flood risks before giving a number. consider if there are factors like upcoming infrastructure projects that might affect noise levels and the general ambience of the area.

Be prepared to negotiate

Unless the property is significantly underpriced, expect some negotiation. The asking price is a starting point, and depending on the market and the seller's circumstances, you might have room to manoeuvre.

Making the offer

You can make an offer verbally to the estate agent, but always follow up with a written confirmation, usually via email. This ensures clarity and avoids misunderstandings.

What to include in your offer

• The amount you're offering.
  
  
• Whether the offer is subject to a survey (advisable) and mortgage approval.
  
  
• Your proposed timescale for completion (consider your own sale if you're in a chain).
  
  
• Any additional incentives you can offer, such as being a cash buyer (reducing the seller's risk and potentially making your offer more attractive).

Be professional and courteous

Throughout the process, maintain a professional and polite demeanour with the estate agent. They act as a mediator between you and the seller, and a positive relationship can go a long way.

Get your finances in order

Knowing exactly how much you can afford is vital. Secure a mortgage in principle from a lender. This demonstrates to the seller you're a serious buyer and streamlines the process if your offer is accepted.

If you’re looking for a property but aren’t sure what you can afford, get in touch with us and we can help you arrange a mortgage in principle.