How to be in the best position to buy a property
What does proceedable buyer actually mean? What can I do now to make myself more proceedable so my offer is accepted over another buyer?
What does proceedable buyer mean?
Everyone would like moving home to be stress-free, quick and simple. There are several recognisable factors which could determine the time a sale may take and how stressful it could potentially be.
In a market where demand is high, if a vendor receives multiple offers, you want yours to be presented as the most favourable, especially if it is not quite as high as some others. An agent can only do this if you are in the best position to move quickly with all the other fundamentals already in place before you view. This is the basis of the industry term 'proceedable buyer'.
Here are 5 quick tips on how you can make yourself stand out as the most proceedable or attractive buyer so you don't miss out on your dream property:
Mortgage Agreement in principle (AIP)
Unless you are a cash buyer, you will need a mortgage loan to fund the purchase. You may have spoken to your bank to find out how much you can borrow but be aware, they can't compare the whole market of mortgage products like an independent broker can. Click here to request a quick, free no obligation call from a reputable, independent broker.
Current position
The following tend to be considered the most proceedable buyers:
• A cash buyer who does not rely on obtaining funds from a sale for a prospective house purchase
• A 1st time buyer or someone already sold/chain free living in rented with an AIP in place
• Someone selling their property to buy their next one who :
a) has accepted an offer for their current property (the length of chain & calibre of professionals invovled may be reviewed)
b) is already on the market with a proactive agent
Quotes obtained from solicitors
Property conveyancing is a specialist transaction so your local or usual family solicitor may not be based placed to oversee it. Your choice of solicitor can have a huge impact on sale timescales.
Although we choose not to take referral commission for recommending solicitors, we are able to recommend local solicitors who in our experience are committed to providing the best service possible. Please get in touch with us for a free quote or to discuss why this stage is so critical.
Proof of deposit funds
You will need to show your deposit funds are readily available by providing a copy of an account statement. If funds are being gifted from someone else you need to provide written proof this is going to be the case. If you are a cash buyer, you will need to show all funds for the full property value will be available.
Interest in Secure Sale to prove commitment
Choosing a Sandersons Secure Sale prevents either party from just walking away without financial compensation or attempting to Gazump/Gazunder further down the line.
Once the offer has been agreed, both buyer and vendor sign an agreement, agree timescales, the property is withdrawn from the market and both are bound by the terms within. If either party withdraws or breaks the agreement, then the innocent party is entitled to a compensation payment.
Register for property alerts
Ever missed out on the perfect property just because you heard about it too late? Or the agent never told you about it? Or you ignore most of their emails as they tend to be for properties outside your criteria you told them? Our alerts are different - never miss out again by using our ‘Heads Up Property Alerts’.
You will receive an alert about a new listing 24-48 hours before it goes live on the portals. Simply create your profile, set your criteria and our system will constantly give you the ‘Heads Up’ on suggested properties and price reductions that might specifically interest you.
You can update, refine or unsubscribe at any time so try it for yourself and be first to get the heads up on properties you might like..
Don't lose out to a rival buyer who has already taken these steps to make themselves proceedable. You may be ready to move but you need to be ready to buy.
If you would like to any more information on the process of buying or selling a property please contact us.