With 11 buyers for every home, how can you get ahead in the race?
Figures from the National Association of Estate Agents confirm that housing demand remains extremely high, with an astonishing 11 buyers chasing every property on the market.
Whether you’re a first-time buyer, second-stepper or a last-time mover looking for a property, with a shortage of houses for sale you’re likely to face some stiff competition. So how do you give yourself the best chance of getting your offer accepted?
DON’T HANG AROUND
If you like the look of a property listed on a website, acting swiftly makes sense. Contact the agent and book a viewing as soon as you can. Make sure the agent knows your circumstances and that you’re a serious buyer.
If you’re a first-time buyer with a mortgage offer in place, you are in a better position than someone further up the housing ladder who will need to sell their existing property. If your seller is keen to move quickly, your offer may be more appealing than one at a higher price.
BUILD RAPPORT WITH THE SELLER
Getting to know more about your seller’s situation and their moving plans can help you demonstrate that you’re a suitable buyer. Letting them know what you like about the property and reassuring them that you’ll take good care of it, could help them to warm to your offer. Having a good relationship with the seller can also help you find out valuable information about the neighbourhood and the property in a way that the agent’s details can’t do.
BE PREPARED TO BE FLEXIBLE
If you can help the seller by accommodating their moving dates, then they may see you as the most suitable buyer. For instance, they might appreciate a delayed completion to give them more time to find their next property, so it’s worth asking how you can help them with their plans.