Negotiating an Offer
If you are selling your property you will usually receive multiple offers on which your estate agent will be able to offer you guidance and advice. Ultimately, it is your choice to accept an offer, however, your estate agent will be able to assist you if they believe negotiation is possible.
Negotiations, if they occur, are a very important part of the selling process so it is important both you and your estate agent are available to take potential calls at all times. If an interested buyer is unable to contact you, this could cause the sale to collapse.
If your property receives several offers, it is important to recognise who the most important buyers could be. Your chosen estate agent will also be able to help during this process by asking questions to evaluate their suitability for your property.
Some of the most ideal potential buyers are:
Those who buy in cash
This means that there are fewer obstacles in their way resulting in a quick sale.
Those who are buying for the first time
These buyers are not held within the property chain and are therefore less dependent on any other influences.
Those with existing property to sell
If a buyer is also selling their own property, they will more than likely be very invested and want the process to move along quickly.
Those with a property solicitor
Buyers with an appointed property solicitor will typically be able to move through the transaction a lot quicker than a buyer who doesn’t.
Those with a mortgage agreed in principle
This kind of buyer brings reassurance to a transaction as they already have the funds required and have completed one of the biggest parts of purchasing a property already.
In some areas, where demand is high, sealed bids are used. This means your estate agent will ask all interested parties to submit one final offer which means it is then up to you to decide the winning bid.