How to put an offer on a house

Podcast approved by The Openwork Partnership on 18/08/25.

When is the right time to make an offer?

It’s specific to the individual or the people buying. It will depend on the property and your circumstances – such as whether you already own a property or you’re a First Time Buyer, or whether it’s an investment property like a Buy to Let or a holiday let.

Ultimately, you want to get yourself ready, so you’ve spoken to the right people to get you to that point and you’re comfortable to go forward and make that offer.

Do I need a Mortgage in Principle before making an offer?

You don’t have to have a Mortgage in Principle before you make an offer, but it is a good idea to have spoken to somebody to find out what your borrowing capacity is. There’s no point in going to see a house, falling madly in love with it and then finding out its way out of your price bracket.

A Mortgage in Principle just gives you that confidence. Lenders use soft footprints for these, so you can get one with any bank – not necessarily the one you end up with. It just means that subject to underwriting, a lender will let you have this money.

How much should I offer on a house?

It depends on lots of things, including the position of the vendor selling in the property and how quickly they’re looking to sell.

The property may have been inherited after a death, and might need to go through probate. That could impact the timeframes and ultimately affect how much you offer.

Take a look at the condition of the property and the local area. Are there any comparable properties that have sold nearby you can compare with this one? There’s no one-size-fits-all answer here. It will be subject to a variety of things specific to the buyer and the property.

Should I view the property more than once before offering?

Again, it’s going to be down to the individual buyer. I’ve always believed that the moment you walk into a property, you know whether it’s the one for you or not. I certainly did when I bought my home.

But it’s always good to take somebody else with you on a second viewing. You will always look at a property with rose-tinted glasses once you’ve fallen in love with it.

If it needs work, definitely view it more than once – and potentially take a builder with you. You don’t want to make an offer and find out that actually it’s going to cost you another £20,000 on top of what you’ve offered for the work, and you hadn’t budgeted for that.

Should I offer the asking price, or below it, or above it?

Emma’s just laid the foundations for this one. If you’re interested in a property that needs some work and as she suggests, you’ve taken a builder for a further viewing, you’ll have an idea of the costs involved. You could then factor that into your offer price, possibly based on the price of a property sold nearby.

It might also be down to your financial situation. You might be restricted on what you can offer – because with the deposit and other fees involved in buying a property, you might have a maximum budget.

It also depends on other factors – such as how long has it been on the market? Is there a lot of interest in the property? If you’re the only person that’s viewed it in many weeks, your offer might have more clout.

But you may not get any interest in a lower offer if the property is inundated with viewings and other buyers putting offers in at the same time. Also, If you are going below the asking price, which most people do to begin with, don’t go in too low – you’ll alienate the vendor straight away.

Let’s say it was on for £250,000 and in good condition with no major work needed. If you went in at £200,000, the vendor won’t think you’re seriously interested. The rule of thumb has always been between 5% and 10% under the asking price.

As Gethin said, if there are lots of viewings on it and people want that house, you may end up going over the asking price. A property is only worth what someone is willing to pay for it.

Podcast approved by The Openwork Partnership on 12/09/2025.

How do I show I’m a serious buyer?

The most important thing with this is preparation. Everyone knows when they’re starting to look at properties. You don’t just wake up and decide to view a property today.

Start by speaking to a mortgage advisor to understand your financial situation. We’ll talk to you about your options and get you an Agreement in Principle. We ensure you have your proof of deposit available, and give you an idea of solicitors to go to.

We highlight the positives about you and your situation. If you’re chain-free, that’s obviously a massive bonus for a seller. So preparation is key.

What does ‘under offer’ mean?

You may see websites or signage saying ‘under offer’ or ‘sold subject to contract’. Ultimately, it means the seller has accepted an offer. It’s not legally binding yet because no contracts have been signed.

It means you’re in the process, they’ve accepted your offer of what you’re willing to pay for the property and you’re now going through the legal work, the mortgage process and surveys to take you through to exchange and completion.

What happens if the seller counters my offer?

The offer process, and trying to negotiate on a price, is always a bit of a stressful one.

Don’t panic. It’s fairly common that a vendor comes back to decline your offer and asks you to come back in with a counter offer.

I think it’s a good sign. They’re open to selling to you. But you need to be comfortable, and it all comes down to how much you want the property. If it’s a dream property that would very rarely come onto the market, you will be more keen to secure it.

If there are other properties out there that you’re keen on, you need to find the right price to pay on that property.

Can I negotiate after my initial offer is accepted?

You can look to negotiate, but there has to be a valid reason behind it. Perhaps you had a survey done on the property – something I highly recommend in most circumstances.

If the survey suggests significant amounts of work required that you weren’t aware of, you may be able to negotiate that price. That’s definitely a conversation to be had.

There may be other circumstances – such as a down valuation on a mortgage. It can happen, as long as there’s a valid reason.

How much room for negotiation is there, typically?

It’s very market dependent. In a hot market, a property may be in more demand. You could find that offers are actually going in above the asking price. In a slightly more difficult market, there may be offers under market value.

The key is really to research the property you’re offering on. How long has it been on the market? What are the comparables? Have any similar properties in the area sold recently? An honest conversation with an estate agent might help you understand how much interest there has been on the property.

There’s no set discount. It depends on you, your circumstances and the vendor’s circumstances.

Should I reveal if I’m in a chain or chain-free?

I work closely with first-time buyers as well as home movers. Being chain-free is a big strength and, from a vendor’s point of view, if you are chain-free there could be an opportunity for a lower offer to go in.

Being chain-free makes the process simpler, which can be helpful. But you need to let the agent know your current situation either way. That needs to be factored in when the vendor looks at negotiations and considers your offer.

Will having a bigger deposit strengthen my offer?

There are products in the market where you could potentially buy with 0% deposit. But if you have a larger deposit, there’s probably more access to mortgage providers for you. You may find that the process can be a bit simpler with a bigger deposit, but it’s not a deal breaker.

Even if your deposit is zero or 5% or £5,000, there are options out there for you. Speak to a mortgage advisor, as we can help you understand your circumstances and find the most suitable option for you.

Do I need a solicitor or conveyancer before making an offer?

No, in the majority of cases, you won’t. It’s really good practice to have a solicitor lined up, though, with an idea of what that’s potentially going to cost you.

We talk in depth with our clients around the potential costs of buying a property, and the solicitor is one of the key ones to factor in.

I would recommend you have some quotes to confirm the best option for you, and also to move quickly. Communication with the estate agent when your offer is accepted is really important. Having a solicitor lined up and ready to instruct puts you in a good position to move forward.

Should I get a survey done before or after my offer is accepted?

We’d always recommend that this comes after. It might be possible to have a survey done prior to having an offer accepted, but there’s a cost attached to that, and obviously you don’t want to do that if you’re not in a position to move forward with the property.

The lender may have done a valuation or a survey on that property and highlighted some potential issues. Perhaps there aren’t any obvious problems or they’ve just done a ‘desktop valuation’ – you’re then in a position to instruct your own survey.

We recommend you doing that anyway, as it gives you more insight into the condition of the property and anything that you need to consider before buying it.

Is a formal mortgage offer required before making a bid?

You wouldn’t have a formal mortgage offer, but it’s good practice to have an Agreement in Principle – also known as a Mortgage in Principle.

Usually that involves a soft search credit check. In some scenarios, it may be a hard search, but that’s a conversation to have with your mortgage advisor or the bank. It’s to check that your profile is strong enough to potentially take on a mortgage and that it’s affordable based on your circumstances.

We look at your income, expenditure and assess other factors to get you an Agreement in Principle. A formal mortgage offer comes after having an offer accepted on a property. There’s more detail to go through and a full underwriting and valuation process.

What else do we need to know about putting an offer on a house?

My key tip is to work closely with a mortgage advisor. There are a number of factors to consider when offering on a home. I work really closely with my clients and they often send me Rightmove links and we can help them get a good understanding of that property.

It may be as simple as whether that property is mortgageable. Not every property is, depending on its condition or its type of construction. We guide you through the whole process and hold your hand a little bit.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Approved by The Openwork Partnership on 12/09/2025.