Accept the first offer?

What was it that your old gran always told you in the days before your summer holidays when all you had been talking about for the last 4 weeks was your trip to Lanzarote - "Patience is a virtue". What alot of old twaddle you thought as all you wanted to do was grab your passport and get on the plane. But she was a wise old bird your gran and I am sure that she would have made a great estate agent.

Patience plays an enormous price in the selling process and any good estate agent will espouse this mantra on a daily basis. The key to getting the best price is "to have a little patience................."

I came across two examples this week where had the clients taken the first offer then they would have lost out on £20K. In so many cases it pays to allow all the interest to bubble up before deciding what to do. Test the market fully . Don't be tempted to rush in and accept that first tempting offer. It is just a marker in the sand - a starter for 10 as Bamber Gasgoigne used to say. In both of the previous cases the first offer was in excess of the Home Report. Be strong and play the game.

There is one caveat.

You have to be sensible however and if your property has been languishing on the market for months and someone gives you a reasonable offer then dependant on your circumstances, you would be daft not at least to entertain a negotiation with the buyer.

As ever, if you would like to discuss anything property then do please get in touch and do listen to my podcast on negotiating