Considering Offers

Work out what you need to make on your sale, so that you know whether an offer is worth accepting. This will depend partly on your circumstances: if you are buying another property you probably have a particular figure in mind that you need to reach in order to afford your new purchase, allowing for all the costs of the sale and purchase. If you're downsizing to a smaller home or less expensive area, or moving into rented property, you may be able to be more flexible about what price you accept.

• If the property market in your area is strong, it might be worth making it clear that you won't negotiate.
• Don't jump at the highest offer without thinking it through - more money doesn't necessarily mean a more committed buyer. Choose a buyer that really wants your home and has the resources to pay for it.
• Don't stick to an unrealistically high figure of the sake of it, however - it will probably take longer to find a buyer and you may have to drop the price.

Questions for the Realtor

If you use an realtor they will advise whether or not to accept an offer, but you should specifically ask whether your potential buyer:

1. Needs to sell a property before they can buy. The more links there are in the chain, the more delays there are likely to be before completion.
2. Has finance arranged. A genuine buyer will be able to produce proof that the lender has provisionally offered them a mortgage. If they claim to have a large proportion purchase price available as cash, ask your agent to check out the details. Buyers desperate to have their offer accepted sometimes promised more than they can deliver.