Rightmove have claimed that January was their busiest month ever recorded in terms of visits to their website, with over 150 million visits.
Compared to January 2019, agents saw a 12% increase in sales agreed, in London this was higher at 26%. This is the largest year on year increase since July 2017.
Now that the UK property market is clearly more competitive, how can you ensure your offer on your dream home is successful without paying over the odds?
Of course, one way of securing a dream home is to put in a high asking price, but realistically this isn't usually needed and you may well regret it down the line.
You'll want to install confidence into the seller that you will be able to successfully go through the purchase process without dropping out. If the sale fell through, the seller could lose their onward property too.
Therefore, you want to stand out from the crowd when making an offer. A way to do this is to send an email to the agents and ask them to forward this to the sellers. There is particular information you can include in the email in order to stand out and show the vendor that you are a serious buyer. It will mean that you're reaching out to them on a personal level and even if your offer isn't the highest, they may choose you.
Here's what information you can provide to make a successful offer without paying over the odds.
Often the first thing you find out about someone is their name - it starts that emotional connection. The seller may even look you up on social media, so ensure nothing you wouldn't want them to see is on your channels!
Your purchasing position
Let the seller know if you have your own home to sell, or if you don't have a chain. If you don't have a chain, it's always a positive as there is less that could go wrong. However, if you do have a chain, explain to the seller the status of each of the transactions relevant to your purchase.
Mortgage in principle
Before making an offer on a property, it's always a good idea to have a mortgage in principle ready as this shows that you can afford it. This is only applicable if you are purchasing with a mortgage of course.
Proof of funds
It's a good idea to prove to the estate agent that you have the full deposit amount ready, because then you can confirm this in the email to the seller.
In writing, confirm the amount you are offering to the seller for their home.
Are you in a position where you can move house fast, or do you have a timescale in mind like 3 months' time? If you're flexible, let the seller know that you'll move at their pace.
Let them know that you are ready to provide them with your solicitor details should they wish to see them, as this shows that you're all ready to move.
Let them know which surveyor you will be using, as this again shows that you're all prepared.
If you've seen anything in the house that you'd like to be left behind, such as curtains or a shed, let the seller know that you're interested in keeping them if they're happy to leave them behind.