When can I make an offer?

PUBLISHED: 10:51 10 July 2015 | UPDATED: 10:51 10 July 2015

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Archant

DIRECTOR of Avery Estate Agents, Daren Podbury, discusses when to make an offer.

A few clients have asked me the same question recently: “Can I make an offer on a property even though I have no buyer on the property I am selling.”

One of the clients had been informed by another Estate Agent that they were not allowed to make such an offer subject to selling.

In an ideal world our sellers would rather receive offers from proceedable buyers but there are benefits to the seller and buyer when receiving non-proceedable offers.

From the sellers point of view it shows there is interest from a genuine buyer and confirms the figures they may be interested at. We would always advise our clients to keep the property available to other parties until the interested party has a buyer, but from our experience, a number of our sale agreed result from buyers who were not initially sold.

From the potential buyers point of view it confirms the figures they will have to pay and will help them in their negotiations of figures they may have to achieve on their sale on the basis of the price they will have to pay on the purchase.

It may also help with viewings on the potential buyers property as they will be able to let them know they have found a property to buy, showing they are a committed seller.

We receive offers from buyers in very different buying positions from a cash buyer to someone not yet on the market and hopefully we will treat every offer in the same way, as an offer is always showing an intention to buy.

Pic: Daren Podbury

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