Buyer’s Guide: How to make an offer on a Property

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HOW TO MAKE AN OFFER ON A PROPERTY

1) ALWAYS BY PHONE FIRST

I always prefer an offer to come in by phone call first. It’s a better way for the buyer to express their interest in the property and for the agent to confirm any pertinent questions. It’s also usually easier to remember the buyer from the viewing when they speak to you on the phone. Putting a face to the number of the bid sheet is important for both buyer and the agent. DON’T make offers in the viewing itself. The agent is often too busy if other people are there and you look too eager. Wait until afterwards or the next day and then call.

2) FOLLOW UP BY EMAIL

the follow up email is just as important. Confirm what you have offered, that you have Mortgage Approval, you have deposit, solicitors and surveyor in place. Set a deadline and remind them they have to come back to you with any further offers.

3) PERSONAL APPEAL?

Is it worth writing some personal information in your offer? Remember this email is only going to the agent, it won’t be seen by the vendor. But sometimes an agent might pass it on. I like to give my vendors some flavour of who is bidding. It helps differentiate who is making the offers, not just a figure on the page. Many vendors are delighted to hear a new family wants to bring new memories to a much loved home. There’s no harm giving some extra information. As long as you don’t seem too desperate for this house and this house alone!

ONLINE BIDDING

Of course this doesn’t include Online Bid Platforms. Unfortunately with those you are on your own, whoever bids higher wins. We don’t like this approach as agents. You need some subjective choice in who is buying a house, we like to ensure whoever wins the bidding will follow through, not just caught up in some online bidding war.

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