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I’ve received an offer. What’s next?

What are the steps when receiving an offer via I Am The Agent from a potential buyer? 

Congratulations on your potential offer, you’ve clearly done a great job on the viewing, but what’s next..? 

Here is a short guide of what you need to collect and provide to solicitors to make the offer official: 

Offer verification
Your buyer must present their offer to you:

Written notification, an email to you (feel free to loop us in offer@iamtheagent.com) or they can message through our messaging service confirming: 

 

We can help you with quotes from our partners L&C (the largest fee-free mortgage broker in the UK) and Premier Property Lawyers. Please feel free to call our team for assistance on: 0333 4441007 if you would like a bespoke quote. 

Financial Verification:
Please ensure the buyer has a mortgage in principle as part of the your due diligence we would suggest they provide a copy of the certificate and your brokers contact for verification. 
If cash is funding the sale, please send proof of funds: bank statement or similar. 
Chain verification, if you are selling a property at what stage you are in and the agents details for verification.

Conveyancing
The conveyancing process can be a long and arduous task if, you do not engage with the right legal representation. I Am The Agent will make recommendations based on our experiences with local and national specialists that are both highly effective and motivated to help clients complete the transaction in a speedy fashion. It is essential that your chosen solicitor maintains strong levels of communication with our sales progress or, yourself and the other solicitors always involved.

The buyer should provide full contact details to you the vendor or us (if you have purchased the whole shebang) of their appointed conveyancing solicitor (you also need to have yours ready) 
Full contact name of your solicitor, email, telephone number, Case number or reference.


Client Support
I Am The Agent.com is an online estate agency, where clients pay a one-off fixed fee to market with us, the level of service/support to the property owner varies and negotiations are only available with the 'Whole Shebang' service. We may not be contracted to assist you with the sales negotiations or memo of sale circulation, however we are happy for you to include us in the offers. We strongly suggest requesting all the buyers information for your own records: full address, ID and contact details, so you can contact each other swiftly. 

All party information and memo of sale preparation: 
Once you have received all of the above information from your buyer, you will need circulate a memo of sale as the property owner (unless you have purchased the whole shebang). This is a document with all the information of both parties to pass on to your solicitors to start the process (we suggest emailing it to everyone: buyers, buyers solicitor, your solicitor).

So, in return for your buyer information we suggest it’s best practice to provide the buyer with: 

On receipt of this we suggest looping in all parties with the information to start processing. The solicitors will then start the process and necessary verification. The buyers mortgage company will organise a survey and request for access. 

We can help you with a surveyor within your area just call 0333 4441007.

In compliance with the Estate Agents Act 1979, we are bound to comply with and act in accordance with that legislation specifically with our client's best interest at heart, but naturally we also have a care of duty to you as a seller as well. As a nationwide online estate agency our experience shows that everyone will mutually benefit from a speedy and diligent transaction, if we have the complete cooperation of all parties including, but not limited to; sellers, buyers, estate agents, solicitors and mortgage brokers. We therefore respectfully request that you inform ALL parties involved with your part of this sale, that you are all available for regular updates to assist in the progression of the sale.

Once circulated to all parties and your solicitors, the conveyancing will begin and your conveyancing solicitors should update you and assist you until completion. Although you may need to do some chasing along the way with your buyer.

Good Luck

I Am The Agent