From researching the right offer price to submitting it professionally and following up—here's everything you need to know about making an offer on a house.
Quick Summary
An AIP is a conditional commitment from a lender showing how much they'd be willing to lend you. Having one before you offer shows the seller you're a serious, creditworthy buyer—most agents will ask for one before submitting your offer.
Check recently sold prices on Zoopla or the Land Registry for comparable properties in the same postcode. Look at sold prices—not listing prices—to understand what the market actually pays. This anchors your offer in real data.
Ask the agent whether the seller is in a chain, how long the property has been on the market, and whether they have a preferred completion date. This information helps you tailor your offer—a quick-completion commitment can sometimes be as valuable as a higher price.
Having a conveyancer lined up before you offer lets you instruct immediately after acceptance. This gives sellers confidence you'll move quickly, and means the legal process starts without delay.
Before entering a negotiation, decide the absolute most you'd pay. This prevents you being pushed into overpaying in the heat of a competitive situation. Account for all costs: stamp duty, solicitor fees, survey, and moving costs.
There is no single right answer—it depends on the property, the market, and how competitive the situation is. As a general guide:
| Market Condition | Typical First Offer | Notes |
|---|---|---|
| Hot / seller's market | At or above asking price | Bidding wars common; best & final offers possible |
| Balanced market | 2–5% below asking | Most negotiation happens in this range |
| Slow / buyer's market | 5–10% below asking | Sellers more open to negotiation |
| Property with issues | 10–15% below asking | Support with survey quotes and comparable data |
| Long time on market (3+ months) | 10–20% below asking | Stale listings suggest overpricing |
Always base your offer on sold price data, not asking prices. Asking prices reflect seller ambition; sold prices reflect what buyers actually pay.
Always offer through the estate agent
All offers in England and Wales should be communicated via the listing estate agent, not directly to the seller. The agent has a legal obligation to pass on all offers to the seller.
You can offer verbally over the phone or in person, but follow up immediately in writing (email is fine) so there is a clear record of the amount, date, and any conditions.
When submitting your offer, include:
The agent will notify you and issue a memorandum of sale. This is not legally binding—conveyancing starts, but either party can still withdraw before exchange of contracts. Instruct your solicitor immediately and book a survey.
You can ask the agent what the seller would consider, then decide whether to improve your offer or move on. A rejection doesn't permanently close the door—sellers can change their position if no better offer materialises.
The seller proposes an alternative price. You can accept, reject, or counter again. Most negotiations resolve in one or two rounds. Know your ceiling before entering this stage.
⚠️ Nothing Is Binding Until Exchange
In England and Wales, accepting an offer is "subject to contract" (STC). Either party can pull out at any point before exchange of contracts without legal penalty—though you may lose survey and solicitor costs. This also means gazumping (seller accepting a higher offer after accepting yours) is technically legal until exchange.
💼 Be chain-free
First-time buyers, cash buyers, and those who have already sold are chain-free—hugely attractive to sellers wanting certainty.
🏦 Have your AIP ready
A mortgage agreement in principle proves you've been assessed by a lender. Without one, sellers may not take your offer seriously.
⏱️ Be flexible on completion
If the seller needs time or a specific completion date, being flexible is a real advantage—even if your offer is slightly lower.
📋 Have a solicitor ready
Naming your solicitor at the point of offer signals you're organised and ready to move quickly once accepted.
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