Buying your home Guide to Buying

Guide to buying

How to maximise your chances of getting the home you really want.

It is a truth universally acknowledged that selling your home can be a stressful time (although we like to think that we can help with that). But buying a home can also fray nerves, especially if you have found the ideal property and you want to make sure it’s yours.

You will probably be familiar with the process of buying; searching for a property, getting a Home Report, viewing and submitting an offer. If not, we’d be happy to guide you through it by telephone or in person.

But in a market when there is often competition between buyers for properties, how do you maximise your chances of success? It helps to be a ‘good’ buyer and to have an expert on your side.

Being a ‘good’ buyer
When sellers are deciding whether to accept an offer – or which offer to accept, price is not the only consideration. Given a choice, sellers are likely to prefer a buyer who is ‘purchase ready’ and so able to minimise the prospects of the sale falling through or hitting obstacles.

They may also prefer a buyer who can fit in with their plans whether that means a quick sale or a longer entry date to accommodate their next move.

There are several steps you can take to make yourself a ‘good’ buyer in the eyes of a seller.

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If you are buying with a mortgage, get approval in principle from your lender.  This doesn’t mean that the loan is guaranteed (because the lender will want to check that what you are buying is good security for the loan), but it means that you are better placed when the time comes.
When you have found what you want, you may need to move quickly – which means instructing a solicitor to submit a formal offer on your behalf.  Deciding which solicitor you plan to use in advance means that you are ready to act as soon as the time is right.
It’s no surprise that a seller will look more favourably on a cash buyer than on someone who can only go ahead once they have sold their current home. If you are selling a property to fund your next purchase, it helps to have your property on the market when you submit an offer.  If that’s not practical, at least be ready to market your property very shortly after your offer is accepted.
You can make your offer more attractive by adjusting to the priorities of the seller.  Sometimes, the seller will need a quick sale because they are already committed to another purchase. Sometimes, they might not have a firm entry date for their next home and want to leave the entry date flexible.  The more you can accommodate the needs of the seller, the more attractive your offer will be.
Of course, these are only influential if the price you offer is comparable with others submitted at a closing date or in line with market conditions.  And that raises the thorny question of how much you should offer.

This is where you need expert help; someone who knows the market and the agents selling the property you want.  Someone who knows how to probe for information that could provide an insight in to the priorities and expectations of the seller.

It’s incredibly difficult for a private buyer to acquire that expertise – which is why Pacitti Jones has dedicated Purchase Negotiators to advise our clients on how much to offer and to craft an offer most likely to appeal to a seller.