Should I Accept the Offer on My House?

Before deciding on any offer received on your home you should first consider the whole picture. Receiving ‘an offer’ might create more questions than it will answer.

For example, an offer that includes a price but doesn’t define time frames for exchange of contracts, a list of what fixtures or fittings are expected to be included and details of the purchaser’s funding arrangements.

At our Bracknell office, we’ll help you decide on which offers are best for you and how to test and / or improve offers made to you.

Questions we will be able to answer will include;

• Has the buyer got cash or have an ‘in principle’ mortgage offer
• Is the buyer ready to move now or to your preferred time frame?
• Does the buyer have to sell their home first?
• If the buyer is using money from a third party (such as a spouse or parent) have they viewed and do they support the offer?
• Do they have a solicitor ready to start work?
• Is the offer subject to any specific conditions such as a structural survey, mortgage valuation, etc?
• What is your agent’s recommendation on the offer figure as comparing with similar homes currently on the market and more importantly that have recently sold?

Once you have terms agreed, remember, you only have a serious contractual commitment after contracts have been exchanged. Until then, your property is referred to as sold subject to contract.

During the period between terms being agreed and the completion, Duncan Yeardley pride ourselves on our all-inclusive sale management service. Ask for details.

Related articles:

• How do I make an Offer on a House?
• What is the Process of Buying a House?