Buying a property - once you find property you would like to purchase, the next move is to make an offer, usually through the estate agent. Most sellers build a certain cushion into their price, so it is usual to offer less than the seller is asking.
Property prices - Your first offer might be up to 15% below the asking price. It is then down to the seller to accept that price, or try to negotiate a higher one. If there are several potential buyers interested in that particular property, the vendor might be in a strong enough bargaining position to insist that the full asking price is met - it is not unkown in a strong market for the seller to exceed the asking price. For this reason you might consider offering the asking price straight away to avoid a 'bidding' war.
Estate agents - Upon acceptance of your offer the estate agent will provide a letter of confirmation. You can then go ahead with arranging a survey and finalising your finances/mortgage arrangements. The acceptance of your offer is not legally binding until you and the seller exchange contracts. Findproperty made easy.
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