Receiving an offer on your property

It’s great news when you receive an offer on your property – preparing your home for sale has paid off! However, an offer may not be the right one for you, so keep calm and try to be practical and objective.

Here is our advice to help you through the process of receiving an offer:

• Your estate agent is obliged to tell you when they receive an offer, regardless of whether it is close to the asking price or not. 
• Try to be objective. If an offer is drastically less than you were expecting, you don’t have to accept it, but it isn’t unusual to receive an offer which is below the asking price.
• A low offer isn’t necessarily the final offer. You can expect some negotiation to take place and your estate agent will be able to advise you on the best course of action.
• The highest offer isn’t necessarily the best offer either. There are a number of other factors to consider; your agent will know which buyer is in the best position and which offer is the most serious.
• The advice you can expect from your agent includes whether the offer comes from someone who is in a chain, whether they are a cash buyer or are in need of a mortgage.

If in doubt, talk to your estate agent. They are there to help you through the process.