When it comes to putting an offer on a home, they say you’ll know it’s the right one when you feel it in your gut.
Be it the big garden or the characterful features, you can almost immediately visualise yourself living there – carrying out the renovations and making it uniquely yours.
If you’re a first-time buyer who need tips on negotiating, help understanding what motivates sellers, or support submitting your bid, this step-by-step guide will help you make a successful house offer with confidence.
How to put an offer on a house
After investing weeks, and sometimes months, in the quest for the perfect property, you’re finally ready to make an offer.
Here’s how you can make it happen:
Get your finances in order
This means consulting with your mortgage broker, verifying interest rates, checking your credit rating, and calculating monthly repayments.
You’ll also need to confirm you have sufficient savings to cover a deposit, solicitor fees, stamp duty, and any additional surveys you wish to conduct.
The best way to show you can afford a property? Secure an Agreement in Principle (AIP) with a helping hand from one of our expert team members.
Express your intent
Inform the estate agent of your keen interest in the property and your readiness to make an offer.
Learning more about the seller’s circumstances, for example whether they’re looking for a quick sale or a cash buyer, can be helpful at this point, too!
Submit a written offer
A written offer should clearly state your intention, specify the amount you’re willing to pay, and outline any conditions.
This written offer should be given to your estate agent and can even include a response deadline to keep things moving.
Highlight your advantage
To increase your chances of success, it’s important to stress the benefits of your unique position.
For example:
- If you’re a first-time buyer – emphasise your chain-free status and how it can help sellers avoid lengthy waits and potential delays
- If you’re a cash buyer – highlight that you can move quickly since you won’t be waiting for a mortgage to be approved
Negotiate, if necessary
After making your offer, it’s up to the seller to accept or reject. If it’s rejected, this may be an opportunity to negotiate until a more mutually agreeable figure is reached.
Request the property be taken off the market
Once your offer is accepted, ask the agent to take the property off the market.
This helps protect you from gazumping – where another buyer swoops in with a higher offer.
Acting quickly also shows you’re serious and helps secure your purchase.
Confirm what’s included
Whether you want to keep the kitchen appliances or curtain rails, make sure you and the seller agree on exactly what’s staying and what’s going.
Be sure to then get it confirmed in writing with the estate agent before moving forward.
Finalise your mortgage
Once your offer is accepted, it’s time to move forward with your mortgage application.
This is where we come in to guide you through the mortgage finalisation process.
How do I know how much to offer for a house?
Knowing how much to offer on a property isn’t always straightforward.
It requires carrying out extensive local market research, understanding your unique position as a buyer, and knowing what you can afford.
We recommend researching recent sale prices of comparable homes in the area to get a realistic sense of the property’s market value.
For more general advice, Homeowners Alliance suggests the common rule of thumb is to offer 5–10% below the asking price.
However, cash buyers often have more leverage, with some offering 10–25% below market value, as sellers are often willing to accept a lower price for a quicker, smoother sale.
The same can apply to first-time buyers, who aren’t tied to a property chain.
That said, your strategy should reflect the market conditions; in a competitive marketplace, you may need to offer closer to (or even above) the asking price, while in a slower context, there’s typically more room to negotiate.
Ultimately, weighing up all these factors is the most effective way to determine a fair and realistic offer.
While you should be ready to negotiate, always set a maximum budget to avoid overstretching yourself financially.
How long is an offer on a house valid for after it’s been submitted?
Made an offer on a house but haven’t heard back from the seller yet?
Many buyers face the same uncertainty and end up asking ‘how long is an offer valid for?’ for this exact reason.
In England and Wales, there’s no official expiry date for a property offer. Once submitted, your offer remains open until you either withdraw it or the seller formally rejects or accepts it.
While there’s no legal obligation for the seller to respond within a specific time frame, you can include a response deadline within your formal written offer to avoid being left in limbo for too long.
Can you withdraw the offer?
Yes, in England and Wales, you can withdraw a house offer at any time before contracts are exchanged.
Withdrawing prior to exchanging contracts comes with no legal penalties and can be facilitated through the estate agent or your solicitor.
Can you make an offer for a house before yours is sold?
Yes, you can make an offer for a house before yours is sold.
However, sellers may view your offer as less serious compared to buyers that are chain-free and ready to move.
Even if your current home hasn’t sold yet, putting your property on the market, obtaining an AIP, and having a solicitor on hand can help cement your position as a serious potential buyer in the eyes of sellers.
What happens after an offer is placed on a house?
After placing your offer and having it accepted (congrats!), the first step is to take the property off the active market and get in touch with a conveyancing solicitor to handle the legal details and property searches.
Next, you’ll need to finalise your mortgage offer and get a quote from a removal company.
Then, once your mortgage is approved, it’s full steam ahead to exchange contracts, pay your deposit, and set a completion date – that’s the day you collect the keys and can move in!
From putting in an offer to getting the keys
To start the process of making an offer on your dream house – speak to our friendly team of mortgage advisors today! We’ll do everything we can to make applying for a mortgage and becoming a homeowner as simple as possible for you.
Pick up the phone: 01925 573328
Pop an email to: hello@ukmc.co.uk
Disclaimer
UK Mortgage Centre Limited is an Appointed Representative of Refresh Mortgage Network Limited.
Refresh Mortgage Network Limited is authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register under firm number 1019794.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
The Financial Conduct Authority does not regulate will writing and taxation and trust advice.
You may be charged a fee for your advice. A typical fee is £495, which would be payable when you receive your mortgage offer. Your dedicated advisor will discuss this further on your free initial phone call.
Registered company number: 15825320
