How to be a stand out buyer in a competitive market
No matter what external factors are playing a part in the Property Market at any given time when it comes to the best properties there’s always competition for them. Whether it’s a property in a prime location or a project house that lots of people want the opportunity to develop, or even that homes don’t come up very often on a particular street, being in the best position as a buyer can make the difference between securing that property or not.
In our role as local property experts, we want to be able to support both buyers and sellers and ensure that the process runs as smoothly as possible for all the parties involved. In our blog here we share our top tips for making yourself stand out as a great buyer, so that you have the best chance of securing your dream home.
Have a sale agreed on your current home if you already own one – sounds obvious but too often people start to look at homes before even having started the process of selling their current home. Although yours might sell quickly there are still lots of aspects that can take a lot of time still to complete, so having sold your property already is key to being an attractive buyer yourself.
If you are a cash buyer or currently renting make your agent aware of this from the off – both these mean you could be in a position to progress more quickly than other buyers who are interested too.
Get a mortgage agreement in principle – for people who haven’t moved for some time they may not realise that getting a mortgage offer in place isn’t as easy as it was 10-15 years ago, and having already got this in place, sellers will know that this aspect isn’t going to delay things. If you are a first-time buyer this is absolutely essential as most Estate Agents wouldn’t take you on their books to view properties until this was in place.
Aim to be good at communicating – what we mean by this is by being reliable in providing feedback after viewings, and responding to communication in a timely manner. The reason being is this shows the seller that you’ll be good at keeping on top of this sort of thing should they accept your offer. Too often things can become tricky in a chain, not because of the process, but because of a breakdown in good communication.
We know no one wants to pay more for a home than it’s worth, and for some the haggling involved in buying a home is one they enjoy – but in our experience, sellers can be put off by buyers that make offers that are too low and it can raise a red flag that you’re not serious or committed to buying that property, rather than it’s about bagging a bargain.
The good news for the buyers we work with is that our helpful team of local experts will help you navigate the process of buying and will work incredibly hard to help you find and complete on your dream home.