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Selling you home

To improve the sales process, you need to focus on finding the right buyer for your home.

By Maurice Shasha  //  Mon 15th July 2019
Knowing who your ideal buyer is, and what the best offer for you is, will help you make an informed decision.

London Vendors – Who Is Your Ideal Buyer?


If you are looking to sell your home, you likely have many thoughts about what needs to happen. Selling your home can be an emotional time. However, to improve the sales process, you need to focus on finding the right buyer for your home. If you only receive one offer on your home, you don’t have much choice in what you accept. Receiving one offer is a lot better than receiving no bids for your home.

However, if you have several offers, you have a decision to make. The London property market is competitive, and there is a strong chance there may be considerable interest in your property. Knowing who your ideal buyer is, and what the best offer for you is, will help you make an informed decision. At Plaza Estates, we are here to help you sell your home in a way that is best for you.

The size of the offer is important


The most substantial offers will inevitably be most appealing in selling your home. The more money you receive in selling your home, the more opportunities you have with your next move. If you accept the most significant offer, no one will disagree or attempt to argue with your decision, as it is the logical option.

However, the amount of money you receive isn’t the only thing to consider. It may be that a lower offer has other criteria that make it a more acceptable option for your needs. The Homeowners Alliance offers guidance when it comes to haggling over fees.

The nature of the offer can influence your decision


While the most significant offer may be the most appealing offer, you may have to choose between a cash offer and a mortgage-backed offer. If you and your legal team are comfortable with the cash offer, this may be a more attractive option than an offer backed by a mortgage.

Cash offers conclude faster. Also, if the mortgage has only been agreed in principle, there is no guarantee that the proposal will come through. Therefore, vendors may find accepting the cash offer, even for a slightly lesser amount, may be more suitable than accepting the mortgage offer.

Is the buyer part of a chain?


One issue that vendors need to be aware of is whether they will be part of a chain. The longer the chain, the more opportunity for delays and even the collapse of the deal. Therefore, it makes sense to ask the vendor if they are part of a chain, and how many people are involved with the agreement.

It is easy to see why vendors prefer to sell to first-time buyers. First-time buyers who aren’t reliant on selling a home aren’t involved in a chain, making the sales process straightforward. Given the stress involved with selling your home, it makes sense many buyers would prefer to minimise risk and exposure when selling their home.

There is a range of Help To Buy schemes on offer, assisting first-time buyers step onto the property ladder – read more on Help To Buy

If you are a London vendor, come and speak with Plaza Estates. We aim to provide you with the best standard of service at all times, ensuring you make an informed decision. To book a free valuation of your property, contact us today.

Offices at

Marble Arch
29 Edgware Road
London
W2 2JE
f: 020-7258-3090
Knightsbridge
34 Beauchamp Place
London
SW3 1NU
f: 020-7581-7005