Moving home is exciting and stressful in equal measure. Having found the home of your dreams, it’s tempting to feel that just making an offer is enough. For sellers, not all buyers are created equal however and you may find that your offer is declined (or even your request to view) leaving you frustrated and confused – surely your offer is what the seller wanted? With the property market currently very buoyant, sellers have the choice of potential purchasers. When looking to move and purchase a new home, there are several ways in which you can ensure that you are the cream of the crop to sellers. In this article, we explore some of those methods.
Be On The Market
There is nothing more frustrating for someone selling their home, who is likely to be in a perpetual cycle of cleaning and tidying and living in a near show home whilst viewings are being carried out, than having potential purchasers looking around who haven’t even instructed an estate agent to put their house on the market. It gives a seller an impression of you as a time waster and just having a nose around. It’s always best to at least have your home on the market prior to making appointments to view others to put you in the best light with sellers.
Have Your Finances In Order
Having your finances in order (or at least very near) will go a long way towards showing how committed you are to purchasing a new home. Having a mortgage agreed in principle at the very least is a good start. For first time buyers, some form of proof that you have a deposit ready to go will also ease any worries a seller might have as to whether a sale will be held up.
Have A Solicitor or Conveyancer Instructed
Having a solicitor or conveyancer instructed and ready to go will show a seller that you are ready and willing to incurs the costs of the legal aspects of purchasing a home and that you are a serious buyer. A simple letter of instruction or the contact details of your solicitor will suffice and help to add some further reassurance to a seller as to your level of commitment.
Be As Chain Free As Possible
The dream situation for any seller is that their potential purchaser is in a small chain or better still, chain free! Although this will largely be out of your hands when buying and selling, a lengthy chain has greater potential for delays or worse still, total collapse – the worst possible scenario for anyone in the chain. Although the buyer you have for your home might be ready and willing with an offer, consider that, if there is a long chain involved already with their sale, you might well be in for heartache should the worst happen. Taking the time to hear the position of each buyer making an offer on your home and considering all factors before accepting might in turn make you and your position more appealing to your seller. You might even want to consider selling your home ahead of time and renting a property whilst buying your new home, this “Chain free” position is a very appealing one.
Once your offer has been accepted, up until exchange, your seller (and you) can back out at any time. If your seller feels you are holding up the sale unnecessarily or not supplying and returning information required during the house purchase process promptly, a case of the cold feet can start to develop. You will need to be proactive during the process and ensure that the solicitor or conveyancer acting on your behalf is working to time. You should inform your seller of any delays, should they happen and give a likely timeframe of resolution. Make sure you have all the information you need ready and available for both your solicitor/conveyancer and your mortgage company to ensure all administration time is kept to a minimum.
We hope this article has given some useful advice on how to make yourself the most attractive buyer to sellers. If you are thinking of selling your home or looking to buy a new home, we would love to help and can provide a wealth of advice and knowledge. We are an award-winning estate agency, offering first class residential sales and lettings services throughout Lincolnshire, Hull & East Riding. You can find details of our estate agent offices here.