One of the recurring questions that we at ‘Iles & Jenkin’ estate agents in Worle often get asked by people selling their homes with us is ‘should I accept this offer?’ This is often followed (quicker than Lewis Hamilton in pole position) with “if not, then what is an acceptable offer?”
The truth is that it depends on many factors;
Firstly, it is important to consider the current state of the property market, the length of time the property has been on the market for sale, and - if properties in your road have sold recently- what price did they achieve?
Another key consideration is whether your circumstances are such that you would prefer to sell the property quickly? If so, and if you haven’t yet received any offers, then any reasonable offer is perhaps worthy of consideration?
Finally, your Agent should have done their due diligence to establish how serious your prospective buyers are about purchasing your property. For example, do they already have a mortgage offer in place and if so, has your agent asked for proof of this? Are they relying on selling a property so that they can purchase yours? If so, has your agent contacted their Agent to establish whether they have accepted an offer and if so, how long the chain behind them is?
But above all, bear in mind that it’s a seller’s market. Many of the homes that ‘Iles & Jenkin’ have sold recently have sold for very close to the asking price. And as part of the service that we are delighted to provide for clients who are selling with us, but buying out of the area, is the promise of free advice on making an offer when they’ve found a property they are interested in. Better still, we will be happy to negotiate with the estate agent concerned on their behalf. We are the experts, after all!
In conclusion, all of the above are important factors to bear in mind when both considering an offer and when making an offer. And one thing to absolutely avoid is making an offer for a property that you have set your heart on which is far too low. You risk alienating the seller completely who may be put off dealing with you entirely if they consider that your offer is derisory or, worse still, insulting.
Thanks for reading,
P.S Would you like to get a SOLD or LET sign outside your property quicker?
If so, call Sue, Joe and their sales team on 01934 512537 or email: firstname.lastname@example.org for honest, expert and friendly advice.