Look at the latest news in the Property espeaking:
There are articles on:
• Why you need a Will and Enduring Powers of Attorney when buying property
• Why you should have legal advice before signing and what really is a solicitor’s approval clause?
Multi-offers on a property
A shortage of property for sale has resulted in the rising trend of properties only being available to purchase through a multi-offer situation. This is a confusing and stressful situation, particularly for first-home buyers.
A multi-offer sale is where more than one purchaser makes an offer to buy a property. Each potential purchaser has to prepare their offer and submit the offer by a deadline.
A multi-offer situation is almost like a tender, except that there are no vendor’s terms and conditions of tender and the purchaser sets their own terms and conditions. A purchaser has no opportunity to negotiate initially and must put their best offer forward in relation to price, conditions and settlement date. Read more…click on our Summer addition.
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