It’s a sellers’ market – What can you do?

Over the years, the property market has never exclusively better served either buyers or sellers, but instead changed between the two, depending on the general financial backdrop of the time. And so, in 2016, we appear to be in sellers’ market. With mortgages being still fairly affordable – we chat here about how Glasgow is still a city where buying makes more sense than renting – and demand outstripping supply – sellers have a fair advantage lately.

Making an offer on a house in Scotland becomes slightly more complicated with the Scottish “offers over” system and the probability of homes selling at a closing date – where every interested party must submit its best offer – and many buyers are left wondering how best to navigate the property maze. So, if you are looking to buy in this current market but you don’t want to miss out on your dream home, what can be done?

Clyde Property reckons these tips are key to securing that home you have been coveting.

1 – Secure a mortgage first – There’s nothing worse than jumping the various hurdles to securing your new home and then failing to get the money to proceed. By ensuring your mortgage is in place, you know you can move confidently and efficiently should your dream property appear on the market – keeping you a step ahead of the competitors.

2 – Be ready to move fast – If a mortgage is ready to be fired into action, you need to be ready to move quickly on a property, especially if it goes to a closing date – a reality of many Clyde Property homes due to the huge amounts of interest within just days of going online.

3 – Be realistic about price – Unfortunately, in a sellers’ market, getting a beautifully finished and maintained property for a bargain price just isn’t going to happen. With so much demand, be prepared to pay for a good quality property from the outset.

4 – Be ready to compromise (a bit) – Whilst no-one should find themselves compromising so much that they barely like a property, a bit of compromise is often needed when in the midst of a sellers’ market. The easiest way to do this is by writing down a bullet pointed list of essential needs, such as bedroom or bathroom number or school catchment area, and wants, such as hillside views and a big garden. By separating your needs from wants on paper, it can be easier to make realistic compromises that you can live with.

5 – Use a good, locally trustworthy estate agent – This is perhaps the most pertinent of all the tips. Working with a local estate agent that you can trust can be massively beneficial, especially if you’re looking for a specific home, in a specific area. Our local agents have a wealth of knowledge that you can tap into, and with their own contacts, can really help source the right property for you, which falls within the right catchment area for a desired school, or has the wow factor that you’re after.

Whilst it can be tough navigating the stressful and time sensitive property market when it tips in the sellers favour, with Clyde Property at the helm, it simply doesn’t have to be. Our agents are on hand until late every day and with their wealth of contacts can work with you to find a property that meets your needs.