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How to get your offer accepted on a new home and beat the competition WITHOUT offering extra money

More than a fifth of sellers (22 per cent) would accept an offer that was 5 per cent lower than the asking price if their buyer was chain free and had a mortgage agreed.

The highest bidder doesn't always win when it comes to buying a home, new research suggests.

Nine out of 10 people selling their home would prioritise buyers who are in a position to move quickly compared to those offering more money, according to the findings by credit checking service ClearScore.

More than a fifth of sellers (22 per cent) would accept an offer that was 5 per cent lower than the asking price if their buyer was chain free and had a mortgage agreed.

This equates to £10,366 on a typical house price of £207,308. Buyers are being urged to ensure their finances are in order. A further 52 per cent would consider doing so, meaning that only a quarter of sellers wouldn't budge on price for the right buyer.

Justin Basini, chief executive of ClearScore, said: 'With a chronic shortage of homes, it's no wonder that those selling their houses have the luxury of being picky.' He added: 'The research is clear: it's not just about how high you bid, you must be seen as 'buyer ready'.'

He continued: 'Buying a home is likely to be the single biggest purchase we ever make, which is all the more reason to ensure finances are in the best possible place before kick starting a housing search. I strongly recommend checking your credit report for any unexpected surprises at the outset, so you can begin the house buying process with confidence.'

His top tip for buyers looking to secure a new home centres on being able to prove that you can afford to buy the property. The research highlighted that buyers looking for expensive properties have the most to gain from being as prepared  as possible.

It found that 88 per cent of those selling houses worth more than £500,000 would definitely accept, or at least consider taking, a 5 per cent price cut if the buyer is chain free with an agreed mortgage.

Joel Baseley, company director at London estate agents Rampton Baseley 'We hear from our sellers that the thing they want most from a prospective buyer is for them to have their ducks in a row. People are willing to take a financial hit if it means more certainty and the process is likely to run smoothly. 'Knowing that the buyer has already been provisionally screened by a mortgage provider gives them the edge when buying a property.' 


  • When it comes to buying your dream home, you have to sell yourself as a buyer and that means getting your finances organised in advance.
  • Getting your credit score in order as early as possible maximises your chances of getting accepted for the mortgage deal you want.
  • Getting a mortgage agreed in principle at the start of the buying process can show a seller and the estate agent that you are serious about a transaction.
  • Don't apply for too many different mortgage products as each one will leave a footprint on your credit history and too many can make lenders wary of you

Sales staff at Belvoir Liverpool Central could not agree more with this article when it comes to being on top of your finances. Going the extra mile and being organised prior to offering on properties shows your enthusiasm as a buyer. To speak with our sales team call us on 01512311613 opt 1 or email us liverpoolcentral.sales@belvoir.co.uk

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