Before you offer: get your finances ready
The strongest offers come from prepared buyers. Get a mortgage Agreement in Principle (AIP) before you start viewing — this takes 24-48 hours and shows sellers you're serious and can actually afford the property. Know your maximum budget including stamp duty, solicitor fees (£1,000-£2,000), survey costs (£300-£700), and moving costs. Being chain-free (no property to sell) or having a buyer for your current property makes your offer significantly stronger.
A mortgage Agreement in Principle (AIP) is free, takes 24-48 hours, and dramatically strengthens your offer. Get one before you start viewing properties seriously.
How much should you offer?
There's no formula, but here are the factors: how long has the property been on the market? (Longer = more room to negotiate.) How much interest is there? (Multiple viewers = less room.) What have comparable properties sold for? (Check Land Registry data.) What's the seller's position? (Motivated sellers accept lower offers.) As a starting point, first offers are typically 5-10% below asking price in a balanced market. In a hot market, you may need to offer at or above asking. In a slow market, 10-15% below asking is reasonable.
What to include in your offer
A strong offer includes more than just a price. Tell the seller: your funding position (cash, mortgage AIP amount, help-to-buy), your chain status (first-time buyer, chain-free, or details of your chain), your proposed timeline (when you'd like to complete), and any conditions (subject to survey, mortgage, sale of your property). On open for offer, you can include all of this in your offer form — it takes about 30 seconds.
Making the offer
Offers are typically made verbally through the estate agent, who is legally obliged to pass all offers to the seller. Follow up in writing (email is fine) confirming the amount and terms. On open for offer, you submit offers directly through the platform — they're recorded, timestamped, and visible on the property's anonymised order book. This transparency means sellers can see genuine demand, and you can see what you're competing against.
Always put your offer in writing after making it verbally. This creates a clear record and shows you're serious.
What happens after you offer?
The seller has three options: accept, reject, or counter-offer. If they accept, the property is 'sold subject to contract' — you're in the legal process but not yet committed. If they reject, you can increase your offer or walk away. If they counter, you negotiate until you either agree or decide to move on. Once an offer is accepted, instruct a solicitor immediately and arrange a survey. Speed matters — the longer the gap between acceptance and exchange, the more likely the deal falls through.
Gazumping and how to protect yourself
Gazumping happens when a seller accepts a higher offer from someone else after already accepting yours. It's legal in England and Wales (but not Scotland). To protect yourself: move quickly (instruct solicitor and surveyor within days), maintain regular communication with the agent, consider asking for the property to be taken off the market after acceptance (agents may resist this), and be aware that until exchange of contracts, nothing is legally binding.
In England and Wales, an accepted offer is not legally binding until exchange of contracts. Stay in close contact with the agent and move quickly to reduce gazumping risk.
Common mistakes to avoid
Don't offer without an AIP — you'll be taken less seriously. Don't lowball so aggressively that you insult the seller — a 20% below asking offer rarely opens productive negotiations. Don't forget stamp duty in your budget calculations (it adds £2,500 on a £250,000 property for non-FTBs). Don't rush into offering on the first property you see — but equally, don't wait too long in a competitive market. And never skip the survey — it's the best £400 you'll spend.