At the present time, the sales market is a very difficult place for buyers, with very low stock levels. This is pushing prices up and giving sellers the luxury of being increasingly picky over which potential buyer to choose, or even who to allow to view their home in the first place!
So you need to make sure that you stand out as a buyer, become what estate agents refer to as a HOT BUYER and ensure that your agent can evidence your commitment to finding and purchasing a property, so they can secure you those important viewings, and perhaps even let you know about a particular property before it is even launched on the open market.
Here are my 3 top tips for becoming a HOT BUYER:
1 – Make sure your finances are in order and be mindful of the Mortgage Market Review legislation which became law at the end of April.
If you need a mortgage, make sure that you have spoken to a financial advisor, bank or building society so that you have an ‘Agreement in Principle’ in place. This will ensure you know exactly what you can afford, but will also let your estate agent know that you are making an effort to be in a position to buy. If you need assistance with this, Sewell & Gardner have a friendly relationship with Heron Financial, a local independent financial advisory firm. They will be able to inform you about current mortgage rates, organise quotations or give you general advice on the mortgage process.
2 – Keep in touch with your agent and update them on all of your viewings.
Please try to return phone calls and e-mails from your agent. It might sound silly, but when a buyer keeps in touch with me, even just to say ‘hello’ or to tell me that the last house they viewed wasn’t for them, I know that they are serious about their property search. An estate agent could have thousands of potential buyers they are in contact with at any one time, but only a few will respond to all correspondence and phone calls and these ‘hot buyers’ are the ones who will always get to hear about the new instructions first. Make sure your name and face are etched into your agent’s memory to hear about property instructions before everyone else.
3 – Get into a position to proceed with making an offer as soon as you have found the home of your dreams.
If you need to sell your property, the best thing you can do to help secure your next home is find a buyer first. When we sell a property, there are generally several buyers who offer on each one, and vendors will ask us to help them choose the buyer who meets their needs best. Anyone that needs to take time to find a buyer for their own home tends to get discounted straight away because this will take time and someone else is likely to be in a better position to proceed immediately. I know a lot of people worry that finding a buyer first could force them out of their home but this is not the case. A good estate agent like the negotiators at Sewell & Gardner will manage potential buyers’ expectations so they don’t put you under pressure to move too quickly. If you are thinking of moving, and need help to sell your home for the best possible price, please give me a call on 01923 608361 and let’s chat about your needs before you do anything.
Come and see me for an informal chat or give me a call to discuss your buying requirements.