First time buyer guide
Making an offer
Making an offer in England and Wales
1. Before you make an offer, take time to consider all the factors.
- Does the property and it’s location meet your requirements
- If the property needs a lot of work for example and you don’t feel this has been considered in the price, you could try and negotiate.
2. Some buyers are in a more favourable negotiating position.
If any of the following applies, be sure and let the agent know. It could make the difference between whether your offer or someone else's being accepted!
- You are a first time buyer
- You are not in a chain (you haven’t got anything to sell before you buy)
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You have a pre-arranged mortgage offer
3. Before you make an offer find out the seller’s position.
- If they have had the property on the market for a long time they may be willing to accept a lower offer.
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On the other hand, a seller who is in no hurry to move may be more prepared to hold out for a higher price.
The process differs slightly in Scotland
1. Request the Home Report.
If you viewed the property and loved it, it’s time to request the Home Report from the seller. A Home Report (which is provided free of charge to the buyer) contains three elements:
- the single survey which assesses the condition of the property;
- the energy report which gives the property an energy efficiency rating;
- and the property questionnaire which gives an overview of other useful information such as the property’s Council Tax band and alterations that have been made.
2. Note your interest.
If you want to proceed after seeing the Home Report, it is usual to ask your solicitor to note your interest to the seller’s estate agent. Once this has been done your interest will be noted and you will be advised if a closing date is arranged.
3. Offer accepted.
If the seller accepts your offer, their solicitor will send a qualified acceptance letter to the buyer's solicitor.