Buyer success

October 14, 2021

Competition is fighting fit in the housing market right now! Twice as many buyers are showing interest per property available on the market, than before the pandemic. For your offer to be successful, there are some actions you can take…

Good timing and preparation are often key to being the chosen buyer. Many properties are receiving numerous offers, so sellers may disregard any who are not in the best position to buy, and therefore you need to be ready.

If you have a property to sell, the best starting point to strengthen your position is to place your own property on the market. Sellers are much more likely to choose applicants with a sale already agreed. Securing a property is much harder with your own sitting in limbo.

An end of chain position or having no onward chain at all is even more appealing to sellers. These positions indicate a fast sale completion. Cash buyers are looked upon even more favourably, with the money waiting ready for a quick sale. 

One option chosen by many buyers is to sell their property and then short-term let a home whilst searching for a new one, making the equity of the home chain-free. Doing this can also enable you to try living in an area before you make a final decision about a permanent residence there. 

First-time buyers would do well to begin their application for a mortgage before they place an offer on a home. Confirming that you have a willing mortgage lender and deposit available is one of the first steps an agent will take. Having this proof ready from the start means you will be a step ahead compared to other buyers and a more reliable choice for the seller.

Whatever action you take to increase your bargaining power, this is a great time to take advantage of the housing market. So good luck and we hope you enjoy finding your new home!

If you are thinking of selling your home or would like help and advice, please contact your local branch.

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