This is a question which comes up regularly. The process is similar between agents; however, some will be better than others in receiving, acknowledging and following up with you after your offer has been communicated to the vendor. Our advice is as follows:
Phone the agent first: If viewing a property which is attracting lots of attention and interest from prospective buyers, it’s best to initially phone the agent to confirm your interest and remind them of your interaction at the viewing. Take time to consider your interest overnight before confirming your first bid.
Email: Your follow-up email is most important. Confirm your offer in writing and send proof of funds as an attachment. For example, a copy of your mortgage approval documents, or proof of up-to-date balance of cash funds. The agent is obliged to keep you updated on all future offers received, however remind them that you look forward to receiving regular updates as viewings and the overall sale process progresses.
Individual circumstances: A good agent will take the time to understand your current circumstances in respect of purchasing such as your motivation to buy and search for a new property and your current living circumstances. For example, are you renting, living at home, or selling? Whilst the vendor will be most concerned about achieving the best price for their property, knowing the background of a prospective buyer and their circumstances could also have an effect on the vendor’s final decision and acceptance of a given offer. Making your general circumstances known to the agent can be helpful in the overall process.
How long will it be before the vendor agrees the sale? Some vendors will prefer a quick sale while others will be happy to let a sale progress at a steady pace before accepting an offer. Ask the agent when you can expect a decision to be made/have an offer accepted. The agent should keep you updated on additional offers but make sure you also keep in touch with them based on the timeline they’ve advised.