Making an Offer
So, you have found a property that you like. Congratulations! You need to make an offer to the estate agent. Bear in mind that the offer you make should reflect what you are prepared to pay for the property in its current state of repair and how much it is likely to cost you for renovation and improvements. Some vendors (sellers) may be flexible in the price they will accept for their property. You should be prepared to negotiate, though, if you offer a price that the vendor does not accept. If there are many people interested in the property, the vendor may hold out for the full asking price. Indeed, someone may offer over the asking price! You may want to offer the full asking price at the outset to avoid bidding wars.
When your offer is accepted, the estate agent will confirm this in writing. You are now ready for the next step….
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