As a buyer you are in a powerful position, both in terms of the effect your buying decision will have on your own life, and on that of the person from whom you buy.
If a property were some form of commodity like petrol or milk, then you would simply buy the cheapest stock available. However, buying a home is much less mercenary, and emotions run high.
Up until a few years ago, homebuyers have become used to the idea of making a “starting offer” below the asking price and quite naturally market activity levels will often dictate whether lower offers will be successful or not. But it might be worth considering a few aspects of the implications of making a low offer.
Firstly, what does a low offer say about you to the vendor? That you don’t have the money and that any subsequent increase might stretch you beyond your ability to complete the purchase? Does it suggest that you don’t really like their home, risking offence? Does it suggest that you are just testing your luck? A low offer can often start the whole buyer/vendor relationship off on the wrong foot.
And what if your low offer is accepted? Will the vendors experience regret and continue to market the property hoping to find a higher price with someone else? The chances of such a buyer being found are often quite high as people usually want a property that someone else wants. In fact, we receive similar levels of interest and enquiries about properties which are already “under offer” as those that are For Sale!
Ultimately, it’s about commitment. An offer at, or close to, a realistic asking price tells the vendor that you are committed to the property. In return, the vendor is likely to demonstrate a level of commitment to you that will result in a successful purchase.
You’re buying a home, so is it worth losing your dream property for the sake of getting (and possibly losing) some sort of “deal”? Most properties sell for about the “right” price – all you have to be is the “right” buyer!
16th October 2017
Grace & Rose Estate & Letting Agent
If you are looking to move home in the near future, or need any advice with regard to selling or letting your property, please don’t hesitate to call either myself, or one of our team at Grace & Rose, your local, independent, family run Estate Agents in Billericay 01277 623010 and Brentwood 01277 230300 – book your free market appraisal https://graceandrose.co.uk/contact-us/ or email me direct on firstname.lastname@example.org
We also cover Shenfield, Chelmsford plus the surrounding villages including Blackmore, Bobbingworth, Chipping Ongar, Doddinghurst, East Horndon, Fryerning, Great Baddow, Great Burstead, Great Warley, Herongate, High Ongar, Hutton, Ingatestone, Ingrave, Kelvedon Hatch, Little Burstead, Little Warley, Moreton, Mountnessing, South Woodham Ferrers, Stock, Stondon Massey, The Lavers, The Rodings, West Horndon and Writtle.