Six things you can do right now to improve your chances of buying a home
Date online: 27/09/2017
Finding your dream home is difficult.
The search can last for months.
Does it have three bedrooms? A big garden? Is to close to a good school?
The list is endless.
Then you find it, your perfect home...only to see your offer rejected at the last minute.
Here are six top tips from experts on avoiding disappointment and getting the house you want.
Sort your finances
Whether you have found your dream home or not, you won’t get anywhere without the money.
Making sure that you can afford the properties you are looking at is vital to seeing any eventual offer accepted.
Kimberley Neilson from Reeds Rains said: “Having the financial aspects in order is key.
“Our job is to get the best price possible for our clients. If we go to the vendor with five offers and two have got their finances ready and three haven’t then the two that have are in a much better position to get their offer accepted.”
Matthew Smith, sales and lettings director at Thornley Groves, said: “Make sure that you have the decision in principle - for the mortgage - and forward this to the agents.
“Also make sure that if you are buying with a mortgage then you have the deposit ready.”
Build good relationships
Getting a deal over the line can be down to the relationship between the buyer and the estate agent.
Rob Kennedy, from Philip James Kennedy estate agents, said: “There’s definitely a charm offensive - make yourself known to the sales agents.
“We accompany on 99 per cent of the viewings and we can sometimes have our agents waiting outside the house for 45 minutes and some clients leave no explanation.
“Of course, we understand if there is a genuine reason - but we need to know.
“If a client is not going to turn up for a viewing, the chances are they will not put an offer in for it.”
Katie Griffin, president at NAEA Propertymark says the face-to-face approach is always best.
She said: “Try and go into their offices, rather than having a phone call. Sit down with them to discuss your requirements so that later down the line they can put a face to your name.”
Matthew Smith from Thornley Groves said: “Responding quickly to emails from the vendor is always going to help.
“It indicates that you are serious and committed to purchasing their property.”
You need to be clear about what you want.
Waiting until viewing a property to do your research can have a big impact on whether or not you get the house you want.
Rob Kennedy said: “It’s really important that buyers know what they are looking for before they go out on viewings.
“Research the properties that you are going to see before you head out. If you see dozens of houses and don’t make an offer then you lose credibility.”
Make your position clear
Giving the seller a clear idea of who you are and what your position is can also boost your chances.
Kimberley Neilson said: “One of the main things that I think clients need to do is to make their position clear.
“What position are you in? Are you a first time buyer? Do you need to sell?”
Katie Griffin added: “First-time buyers with no chain make for attractive buyers. Your seller may be looking to move as soon as possible and if you’re in a good position, you should make that clear as it will make you more attractive than other potential buyers.”
Become an expert
Get to know the ins and outs of the property market in the area.
How much have prices increased or decreased in the past year?
How much are similar properties selling for on the same road?
Katie Griffin said: “Do your homework before you place an offer so you go into the process comfortable and confident.
“There is so much information available on the internet about the house buying process and the local area, so take advantage of this.
“Look into what similar properties in the area have sold for so you’re confident the price you’re offering is the right one.”
Protect your purchase once accepted
You are almost there - now you just need to close the deal.
Katie Griffin says buyers need to close the deal as quickly as possible to make sure they don’t fall at the final hurdle.
She said: “Once your offer has been accepted, ask for the property to be taken off the market straight away.
“This can minimise the chances of additional offers coming in over and above yours and finding you’ve been trumped.”