offering on a house. Never done it. What are the must do's?

[Newhere2]

How is the best way to make an offer? What do you need to say or write?
We're completely new to this as have never bought a property. Mortgage approved already so set from that angle.

For an actual offer, is it just:
I think its an offer of X subject to contract and building inspection. And request it to be taken off the market if offer is accepted.

anything else needed? Should it be in writing or verbal? Should we do a deposit?

Any advice or recomended links most appreciated. thanks

[Fugacity]

Just phone up the estate agent, and they will take it from there.

[AnotherEpisode]

Depending on how much/little you trust the agents, I'd always opt for an offer in writing (email will do!).

Talking from experience!

[Greenstone]

Bump for you op because I would like to know more too

[Newhere2]

is there any exact wording to use that is better than others?

Is what I covered what needs to be covered?

Also can you tell me the benefits of giving the offer in writing?

thanks

[wowfudge]

If you make an offer in writing - you could just follow up verbal offer with an email or a letter - it is harder for someone to say they didn't receive it as you have proof of it.

Your offer is subject to satisfactory survey report and subject to contract. That way you can adjust your offer if the survey comes back with something you'll have to pay to fix.

The EA will want to know your circumstances and you need to tell them you have a mortgage in principle. They may not agree to take the property off the market until the survey has been instructed or been carried out as until then you have made no commitment financially to the transaction.

If your offer is accepted then obtain conveyancing quotes, instruct one of the solicitors/conveyancers and inform the EA who you are using and provide their contact details.

[lauren222]

I would advise that you find out as much as you can about the sellers position such as whether they have any tight deadlines for moving out. We were recently in the process of buying a house. The people at the bottom of the chain got made redundant and pulled out. Our seller then accepted an offer from a different buyer because they were not willing to wait for the chain to catch up. It has cost us £400 plus in survey fees and a hefty amount in legal fees as the solicitor had got the contracts prepared and done most of the work. Most of all it has cost us precious time as our baby is due in 4 weeks time and we were hoping to get settled in the new house.

Also, be wary of any seller who markets their property with two estate agents. Our seller did this and continued to take viewings on their property using the second estate agent despite us making it clear at the offer stage that we wanted no more viewings to take place. If we had known about this sooner we would have found another property.

[madamweasel]

Also, it's always worth offering under the asking price if you're not in competition with other buyers, if you're not sure, try 10% below. People expect a bit of bargaining and won't be offended. You can always increase it if they say no, but they might accept.

Tell the EA your offer verbally.

Once an offer is accepted it'll be confirmed in writing.

[Newhere2]

thanks everyone. very helpful.

Is there a better day to make an offer than others?

[LIZS]

Given that most viewings happen on weekends it would be better on offer before those take place and ask that those are cancelled. No deposit required at this stage but do make sure that you only offer what you can afford and arrange survey quickly.