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Bidding on your next home

Do you have a house in mind? How do you ensure that you get everything out of the bidding process for your next house? Take advantage of these questions and answers.

To arrive at an opening bid, you determine the negotiating space, your maximum price and your ideal price. You can make your bid orally, but always confirm it by e-mail so that no misunderstandings can arise. Tell your substantiation and (resolutive) conditions. The seller accepts or rejects your bid. Or he comes with a counter proposal. Then you are really negotiating. Read FAQs below before you buy house in Gambia.

The resolutive conditions are determined and drawn up by the buyer at the time of the negotiations. As soon as the parties have come to an agreement on the price of the property, the resolutive conditions are included in the deed of purchase and they are an additional security for you as a buyer. If the resolutory condition is not met within the stipulated period, you may cancel the purchase free of charge. 

Common resolutive conditions are:

– for financing;
– for building inspection;
– for the sale of your own house.

You are in negotiation when you have received a counter proposal on your opening bid. Keep in mind that the viewings can continue (after all, it is not clear whether you will come to an agreement) and that the seller can receive other bids. If these are interesting, he can ask you for a final proposal. As long as the seller has not signed the deed of purchase, he can cancel the purchase. 

Read More FAQs.