Is how you deliver your offer that important?

Today we're going to be talking about how to position your offer to get you the very best possible outcome. There are no guarantees in life when you are offering on a property, but if you follow these four steps, then it will put you right in the box seat to get the very best possible response. Now, these are the practical steps to take when positioning your offer and should be taken in addition to our tips for first time buyers video. Here we run through some practical steps for you on how to get the very best possible outcome when you are offering on a property.

This is based on 20 years experience in helping clients buy and sell property. And in the last five years of helping them arrange their mortgage, I hope this goes some way to helping you.

You've seen the property. You like the property and you want to make an offer. Okay? Lets go.

So the first point we're going to jump into is being DECISIVE. Acting or being decisive from the outset is one of the critical points to really stand out in this market. I'm not talking about going in feet first, trying to just barrel everything over. You want to come across clean, clear cut, and the absolute perfect buyer. We are assuming here that you've done your research prior to going and viewing the property. You've seen how much other properties have sold for. You've seen how much other properties around the area are on the market for, and you've seen what the people who own this property bought it for. If they've found any work to it and then work out from there where your offer should sit. Sometimes it's a gut feeling and you have to go with your gut, but step back, get a feel for the property, understand the local market, and then be decisive. The first 24 hours to 48 hours from the viewing is often the most critical point to get your offer in. If you have any concerns or you are wavering on any points on that property, rationalise them, then make a decisive step to actually offer on that property or not. If you're not decisive, you'll come across half baked. And then invariably that won't lead to the best outcome.

The second point we're going to look at is EXPLAINING the offer. This may seem really, really basic, but there's got be a rationale behind your offer. Gone are the days when you could pick the phone up to the estate agent and say, "I'm looking at Acacia Avenue and I want to offer ￡350,000, good bye". You need to explain in some detail, not war and peace, why you're positioning the offer at that price. In certain areas of the UK right now, the market is absolutely flying and you'll need to run through your proceedability in some detail (we'll come to that in a bit). So explaining your offer in some detail is absolutely a critical point in securing that property. The first step I would take on that explaining part is pick the phone up to this state agent and let them know you're going to be making an offer. Or if you are happy at the viewing, explain you're going to be making an offer on that property, sends a right buyer signal to them, and it enables the estate agent to get ready to receive that offer from you. Next step pick the phone up, if you're not doing it at the viewing, and run through thee reasons you like the property, these areas you think hold it back and finally the offer amount. Never start with the offer, start with the context.

The third point is AFFIRMING the offer, what I really mean here is putting your offer down onto paper, via email, straight through to the estate agent. On that email, you need to format your offer correctly (we've got a template for this so drop me a line if you need it). First, be grateful, thank them for their time on the viewing. Kindness goes a long way. Next you need to point out why that property is the home you want to buy, positive points. Then a couple of points you may feel hold it back or things that you'll need to address to make it work for you; these are things that you can either overcome with spending a bit of money or that maybe problems in the future when you come to sell. What we're doing is building rational for our offer. And then you need to put the offer in the next paragraph below. Finally below the offer you lay out your mortgage advisors details, your solicitor's details and, if the property requires it, let them know you have a surveyor ready to go. Ensure your contact details are clear and you have one point of contact.

The last thing is LEVERAGE, regardless of what position you are in, whether you are selling a property to buy, a first time buyer, moving from rented having sold before, whatever position you're in, you need to leverage that position.

Right now many estate agents are getting 10, 15 viewings on some properties and multiple offers as a result. The way you stand out is by leveraging your position. the big question

Why should that person sell to you?

That's the question you need to ask yourself. You might be a nice person (I have no doubt it you are reading this). You might have the best position in the world, but unless you leverage that by really pushing the point with the estate agent and seller you just won't stand out. I'll give you for instance, first-time-buyers, rented accommodation. "We've got our deposit ready to go, decision principles, ready to go. We can move as quick or as slow as that vendor, as that seller wants to move. We are completely flexible on dates. We are absolutely beholden to that sellers timescales so we can offer complete flexibility."

If you're selling a property "We've sold subject to contract, this is our chain, these are our state agents details. We understand the seller wants to move quickly/slowly" and so on. When we are talking to our clients, we will often help package the offer in an email so that they've got something nice and succinct to read from. They make the call to the estate agent. They follow it up in email. Then call again to ensure they have everything they need from you.

And the big one, which is not down on this list

The one big thing you can do is communicate. You've really got be open to communication available during that first 24 to 48 hours whilst the deal's being agreed. Put simply, regardless of how the negotiations go, how you feel about everything remain polite, considered and calm (easier said than done)

And there you go. Four elements to positioning your offer be decisive, explain your offer affirm in writing and leverage your position.

I want to wish you the best of luck on your property search. If you need any advice or any steal on a mortgage or protection product, then please do give us a call and be delighted to help.