Property Making an offer on a house

Making an Offer

Before jumping in and making an offer check out these useful hints on making an offer.

Viewing again
It is wise to always view a house for a second time if you are interested in making an offer. You notice things that you didn`t notice before. Take a long any children that you have or a partner that you are buying with. You could also take a long a friend or family member for their point of view. By the end of this visit you will know for sure if you want to by the home or not. Get to know the neighbours and get a better feel for the neighbourhood.

Making an Offer
If you are 100% certain that you still want to buy the house after your second viewing then you should start talking to your Estate Agent as soon as possible. Even if you leave it for a day you may be a day to late. Familiarize yourself with how offers become contracts. An offer is not legally binding except in Scotland.

What is the right price to pay?
Is it really worth the asking price? Have a look at other properties in the area that are similar and check out their prices. If there is a lot of houses for sale in the area that are of similarity this is good for business as you have more choice to choose from and the seller will also know this if they have done their home work. If they haven`t point it out to them that there are plenty of other houses on the market. Buyers never pay the asking price and nor should you. If the price is £75,000 put in an offer for £72,500. Remember only pay what you can afford to borrow.

Take into consideration what additional work (& costs) may be needed.

Find out how long the house has been on the market by asking the estate agent. A house that has been for sale for a while puts the buyer in a much stronger bargaining position.

It is often worth offering a lower price anyway to judge the sellers reaction.

Make sure your offer is "subject to survey and contract"

Article written By Michlle Graham
http://www.brahoo.co.uk
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