11. Choosing the Best Buyer
12. Accepting Offers
Your agent will be the middleman and should present every offer that is made. Insist that the agent has all the background information to hand on the buyer's position, and the ability to move quickly and ask that offers be made in writing. Market conditions, competition and how much the buyer loves the property will determine what the buyer is prepared to offer. Similarly, the price you will be prepared to accept will depend on market conditions; how quickly you need to sell; and the size of your moving budget. Compromise on both sides is often the key to securing a deal. Also, know whether you want to keep all your furniture, curtains and white goods, as many of these items may not suit your next home, and can be used as effective bargaining tools to get the price you want.
13. Holding the Deal Together
This is where the hard work starts, and the longer it takes to reach exchange of contracts, the higher the chances of the deal falling out of bed or of the buyer gazundering (i.e. dropping their price). So keep in
weekly contact with your solicitor and agent to ensure that channels of communication stay open. You need to be kept informed of where the conveyancing is at, and how your buyer is feeling about the progress of the transaction - you need to know whether they are still highly motivated, or off looking at other things to keep their options open.
Phil Spencer - Property Buying Advisor
As the nation's obsession with property continues to grow apace, Phil Spencer has become firmly established as one of the key industry players to comment on the ever-changing marketplace.
Phil co-presents Channel 4's ratings winning property search programmes Location, Location, Location and Relocation, Relocation, which have a regular audience of over 4 million viewers.
Phil's main focus, however, is as CEO of Garrington Home Finders - a leading independent residential home search consultancy with offices in London and the West Country. Phil established the consultancy in 1996 after he recognised the need for a discreet and professional home search and buying advisor service favouring the purchaser rather than the seller.
For further information on Garrington Home Finders bespoke Property Search & Acquisition service, contact Richard Coe