One of the important steps in buying a house is putting in an offer and hoping that the seller accepts it. However, you’ll be glad to know that there is more to getting your offer accepted than just crossing your fingers! In this blog, we look at some of the actions you can take to improve your chances of success. 

1.     Be proceedable (and what does proceedable mean anyway?)

A proceedable buyer is one who is ready to proceed with the sale. A proceedable buyer might be a first-time buyer who already has a mortgage in principle, or someone who has already accepted an offer on their current home, or a cash buyer. All these types of people have a strong appeal for sellers because their offers are less likely to fall through. 

If you know you’re not yet proceedable but you’re serious about wanting to buy a house or flat, it’s time to take action. Do your sums to see what you could afford, then approach a high street lender or mortgage broker and arrange a mortgage in principle (MIP). A MIP is when the lender agrees in principle to lend you the value of the property minus your deposit. Having a MIP means that your mortgage can be put in place promptly when your offer is accepted and providing your circumstances have not changed. If you do not already have a relationship with a mortgage advisor, Cobbles can happily recommend a local, independent company. 

If you own property and need funds from either selling it or letting it before you can proceed with another property purchase, get in touch with the Cobbles team today. We can value your home and get it on the market promptly. Once you’ve received a serious offer for your current property, you can make your own offer for your future home.  

2.     Do your homework

Check out the selling prices for the street and the area as this will help you make a realistic offer. Perhaps you want to outbid other buyers by offering a little more, or perhaps the amount you can afford is under the asking price. Both of these situations would mean you would make an offer different from the asking price, but it’s important keep that offer within sensible limits. Very high or very low offers won’t be taken seriously by the sellers and you are unlikely to be successful. On the other hand, knowing that your offer is fair will help you maintain your position with confidence.

3.     Get organised

Once an offer is accepted, the buyer and seller both usually prioritise getting the property sale completed as soon as possible. If there’s a delay, you could expose yourself to being outbid by another buyer (gazumping). Keep things moving by having all your paperwork ready, and saving relevant phone numbers so you don’t miss important calls. 

Find a conveyancer (a solicitor who specialises in property sales) before you put in your offer, and make sure they can handle your requirements. If your circumstances are straightforward, this shouldn’t be a problem, but if you are buying more than one property at once, for example, you need to find a conveyancer with the right accreditation.

Buy and sell property in Guildford

Whether you’re on the hunt for your dream home or have one to sell, Cobbles can help. Check out our property listings here or get in touch on 01483 457 000 to book your valuation.