This is the crucial stage of the process! It’s understandable to feel nervous, but this is where we aim to secure you real offers.

It’s important to keep in mind that the benefits of an offer can vary depending on the buyer’s situation. In order to make an informed decision, you should consider whether the prospective buyer is in a proceedable position, such as being SSTC or Under Offer. If they are, you should gather additional information about their situation, such as how far along in the sale process they are, who they have sold with, and if there is a chain involved. If they are not in a proceedable position, any offer may not be directly actionable.

If a prospective buyer is in a position to proceed, you should consider if they are buying with a mortgage, if they have an agreement in principle, if they are cash buyers from the proceeds of a sale, or if they are mortgaging a certain percentage of the value. While discussing these details can be sensitive, it’s important to have a friendly conversation to obtain a clear picture of their position.

Once you have a good understanding of the buyer’s situation and chain, you can consider the offer they express to you. If the buyer is in a very good position with no chain and all cash, you may be willing to accept a slightly lower offer since they would be a lower-risk buyer. Conversely, if the buyer has a large chain and a high loan-to-value ratio, they may be considered a higher risk and therefore less attractive in regards to their offer.

It’s important to bear in mind that this information should be detailed in the initial contact with your viewers. If a firm offer is made after the viewing, take the time to consider it and have a chat with your prospective buyers about it. If necessary, ask the buyer to confirm their buying position before advising them of your acceptable figure. Negotiation skills can be useful to barter the price to where you need it or would like it, but be careful not to get too greedy. Once you agree on an offer and have exchanged solicitors’ details, change your property listing to ‘Sale Agreed’ and stop viewings to maintain stability for both parties.

Above all, remember to consider your word and avoid playing potential buyers off each other with competing offers once an agreement has been made.