Making Your Initial Offer

Once you have carried out your research, work out the reasonable price of the property based on other properties in the same area (location is the key factor in determining value), the amount of work that needs to be done and the state of the property market. Don't let anyone know that you are willing to go higher, and try to give the impression that your offer is a high as you can stretch to.

If your offer is rejected and the market is slow, it may be worth waiting a week or so before making a higher offer (you can find out some handy in Negotiating the Deal). Be wary - agents sometimes invent rival buyers and bids - if this is the case, ask them for written evidence.

However, if you've found your dream home, you should make an offer straight away and increase it until it's accepted. If you really want it and it's reasonably priced AND there has been a lot of interest, you should probably think about making an offer at the asking price.