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.
Call us on these topics or any legal matters.