Wednesday, August 27, 2008

He who hesitates
Information for Buyers

He who hesitates is lost!  This maxim is particularly apt just now.  French, British and Dutch buyers are seizing opportunities to snap up the good properties currently on offer.  Last year's lack of British buyers has led to a good stock of properties, but recently some British buyers have lost their chance by being too hesitant to make an offer, or by making too low an offer.

If you really want that house, then make a serious offer for it quickly!  On the other hand you must not make an offer conditional on your selling your own house or subject to a survey.  Sell your own house first, get the survey done, then make your offer only when you are sure about every aspect of the purchase.

As a rough guide an offer will probably succeed if it is within 5% of the asking price.  Offers at 10% less than the asking price will probably be met with a counter offer.  Offers at the asking price usually have to be accepted by the vendor, so the process is naturally quicker, giving less chance for another offer to be received on the same property through a different agent.

Remember too that making an offer can result in the owner coming back with a counter offer even higher than the asking price, since you have opened negotiations!