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Deciding who to Sell to
Whether you have arranged to sell the house yourself or you have used an estate agent you may find that you receive more than one offer for the house. You can sell the house to whoever you want and do not have to sell to the buyer who offers the most money. You may wish to take into account whether the buyer:-
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Is a first time buyer
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Has found a buyer for their own property. If so, is it part of a chain of buying and selling and how long is the chain
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Is paying cash or is likely to get a mortgage
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Wants to move at the same time as you
If you are using an estate agent, it is often easier for the estate agent to find out this information from the buyer.
Deciding on the Price at which to Sell
If you are using an estate agent, the agent negotiates with the potential buyer(s) about the price. The estate agent should try and obtain the best possible price for you. If you are acting alone, you must negotiate yourself. You do not have to accept the first offer put to you and should not be rushed into making a decision quickly.
Accepting the Offer
Even if you have accepted an offer, there is nothing in law to prevent you from changing your mind and accepting a higher offer from someone else. You should also bear in mind that when an offer is made and accepted the potential buyer can also withdraw, for example, they may not get a mortgage, or the survey may show up some structural problem.
If you are selling yourself it may be a good idea to keep the names and addresses of all potential buyers who make offers, in case the one you accept falls through.
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