Facebook Twitter Instagram. View latest news. Fixed Price — this generally means that the seller is willing to accept the first offer made at the given price. On the plus side, this can lead to a fast sale.
On the down side, it reduces the chance of competition, and consequently the willingness of buyers to offer more. Money Compare is a trading name of Which? Money Compare content is hosted by Which? Limited on behalf of Which? Mortgage calculators. Compare Mortgages. In this article. Should I offer below the asking price? Should I make an offer before selling my own property? How to make an offer on a property How to negotiate a property price. Sealed property bids 'Best and final' offers What to do if your sealed bid or 'best and final offer' is rejected Is my offer legally binding?
Withdrawing or changing your offer. Coronavirus COVID home-buying update Different parts of the UK have been placed under varying restrictions in recent months, and in some cases this has affected the property market. Visit the following articles to find out more: Can you move home during the coronavirus lockdown? How has the coronavirus affected house prices? How to apply for a mortgage payment holiday For the latest updates and advice, visit the Which?
Calculate mortgage costs. Use these calculators to see if you're financially ready to buy. How much can I borrow: mortgage calculator Mortgage repayment calculator Stamp duty calculator. All 11 calculators. Compare mortgages.
See the latest mortgage deals on Which? Money Compare. First-time Buyer Mortgages. Make your money go further. Find the best deals, avoid scams and protect your savings and investments. Join Which? Continue reading. House surveys. Depending on the amount of interest, the seller may then set a closing date for all bids to be received, with the highest bid normally being the most successful.
Where a property is marketed at a Fixed Price, this tends to mean that the seller will accept an offer for the full asking price provided the other terms of the offer such as date of entry are acceptable. A fixed price approach can often lead to a quick sale, however the property may not necessarily have achieved the best possible price.
In some cases, they may even accept a slightly lower offer. To give you an idea of what this looks like in practise, during the vast majority — A reasonable proportion, When you see a Fixed Price property that's of interest, make sure to speak to your solicitor estate agent as they should be able to guide you on how much to offer in that specific case.
The market in Edinburgh and the Lothians is currently very favourable for sellers so, for the vast majority, the best advice is to market your home at Offers Over. This will give you the best opportunity to get a number of buyers interested, set a closing date and ultimately get the highest price for your property.
In rare cases it may be that you are best served by starting off at a Fixed Price however. Again, be sure to discuss this with your solicitor estate agent as they will be able to advise you on the strategy you should adopt to help get the best result for you. If you are thinking of buying or selling a property, be sure to get in touch with Warners on or at property warnersllp.
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