When a buyer decides to purchase a property, they will need to seek the help of a house sales solicitor, but before a buyer can begin the residential conveyancing process, they need to make an offer to the seller of the property.
Most of the time, a buyer will usually need to make an offer through an estate agent.
A seller enters into a contract with an estate agent in order to sell a property, therefore, they should always act in the best interests of the client, however, an estate agent is also obliged to treat buyers fairly.
If a buyer is interested in making an offer on a property, they should consider a variety of factors. The buyer should consider whether the seller is asking a reasonable price for the home and they may decide to offer the precise asking price, less, or on some occasions more than the price at which the property has been advertised.
The buyer may also need to consider how many offers the seller has already had, how many repairs or any renovation work which needs to be carried out to the property and how quickly the seller wants to sell the property.
A buyer may find it useful to compare a property’s asking price to other house prices in the same area by searching the Land Registry’s house price index.
Once a buyer has established that they would like to buy a property, they will proceed to make an offer through the seller’s estate agent (if they are using one). The buyer may choose to make the offer either verbally or in writing.
If the offered price is less than the asking price the buyer may need to clearly explain the reasons why they have not offered the full amount and may also state any reasons which would make their offer more appealing, for example, they may be a cash buyer or able to move quickly.
When an offer is accepted, the seller should inform the buyer in writing and the transferring of ownership process will begin.
Buy a property with a house sales solicitor from George Ide
If you are thinking about buying or selling a property, a house sales solicitor from George Ide may be able to help you with the process.
For more information please contact one of our staff members from the solicitor profiles featured on this page.