When you’re selling your home, it might be tempting to assume that the best offer is always the highest offer.

Choosing which offer to accept – and ultimately who to disappoint – is a decision many are making in what remains a busy seller's market despite the emergence of more stock over recent weeks.

The gap between supply and demand is starting to narrow and we expect the current high intensity of activity to begin to tail off later this year but, for now, competition remains strong for the best property if it is correctly priced.

If you find yourself dealing with a competitive situation, perhaps even sealed bids, the conditionality of the offers on the table has never been more important, and it’s difficult to overstate the value of experience and sound advice.

Good agents don’t just pass on the offer to their clients, they should also be able to provide context and guidance on any conditions attached to each offer. For example, have the would-be buyers asked for a specialist survey which might provide an opportunity to revise the previously agreed price downwards?

Some offers may appear more straightforward than others but has the agent asked all the pertinent questions? If the offering party is reliant on finance is the agreement from a reliable lender? Can the offer of loan be exhibited? If they are part of a chain, how strong are the other participants in the chain?

And what about you – which buyer looks most likely to complement your own time frame?

All this means that, while important, price is not the only ingredient in a good offer. It’s essential to understand the conditions that are attached. Sometimes the highest bid is the best, but sometimes less really can be more.

Further information

Contact Andrew Perratt