In these competitive times with more buyers than ever vying for every property, a buyer needs to put themselves ahead and standout to the seller. This ‘buying power’ is likely to secure the home you have decided on.
‘Buying power’ comes from being in the strongest position as a buyer – you may have nothing to sell, you may be chain-free, or you have secured a buyer for your own property. It’s not unusual for people to choose to sell and move into rented accommodation to maximise their chances of acting quickly when they find the right home.
Our advice to anyone wanting to move ahead of Christmas is to put your property on the market now because sellers are opting for those buyers who already have a buyer and definite sale agreed. Realistically, the current market makes it virtually impossible to be taken seriously and secure the home you want, unless you already have a genuine buyer in place.
- Potential sellers are reluctant to list their homes before they have found somewhere to buy, but realistically, securing that property is almost impossible unless they already have a buyer lined up.
- First time buyers should get their mortgage offer agreed in advance to save time and improve their chances of having an offer accepted once they find a property. Other buyers should also already have arranged their finances and got a solicitor to initiate the conveyancing groundwork.
- If you are a cash buyer, be sure to communicate this to your estate agent to prove you can act quickly on a purchase.