Accepting An Offer
Should I accept the first offer?
You've got to bear in mind when you're accepting offers on the property that you've just developed that every month that goes by is costing you money, so the fact that somebody's prepared to offer you anything at all should really be taken seriously. If the first offer was somewhere between 2 and 5 percent of the original asking price, you'd really be foolish not to accept the first offer, because each month that goes by is going to cost you money on your mortgage. You've got to take that into account.
Should I accept a low offer if my estate agent tells me to?
You're estate agent will only tell you to accept a lower offer because he really thinks that you might take a long time to get a better offer than the low offer that's on the table. You've got to remember that a low offer on the table now is going to be worth more to you than having to wait another three or six months just to get that little bit extra.
How can I ensure I get planning permission?
As a developer you shouldn't be putting a property on the market without knowing whether or not there is anything that would come up on the survey, if you've done your job properly. But, if anything does come up there will be an expectation that you will renegotiate on the price, so, yes, you're going to have to do that.
Should I take the property off the market once I've accepted an offer?
You should take the property off the market once you've accepted an offer. But you need to be sure that when you've accepted that offer, the person buying the property is in really good position to actually continue with the whole purchase, and your estate agents should be the people helping you to do that.
