How making an offer actually works
You make your offer through the estate agent, who is legally obliged to pass it to the seller. Offers are 'subject to contract', meaning nothing is binding until exchange — either side can still walk away or change the price until that point. You can attach conditions, such as the property being taken off the market on acceptance.
Sellers weigh more than the number. A buyer with a mortgage agreement in principle, proof of funds, no chain or a flexible timeline is more attractive than a slightly higher offer that looks shaky. Presenting yourself as a serious, ready buyer is part of the offer.
How much to offer
The asking price is the seller's aspiration, not the market value. Ground your number in evidence: what similar nearby properties actually sold for (HM Land Registry price-paid data), the property's own last sale price, the local market temperature, and any drag from condition, a low EPC, heritage constraints or known risks.
It often helps to think in a band rather than a single figure — a cautious opening, a fair-value number you'd be comfortable paying, and a stretch ceiling you won't cross. TrueBrick's report builds exactly this kind of evidence-based offer range from comparables and the property's findings, so you negotiate from data rather than instinct. It's guidance for negotiation, not a formal valuation.
Strengthening your offer without overpaying
Price isn't your only lever. Get a mortgage agreement in principle before you offer, have your deposit and ID ready, and be clear about your position and timeline. Flexibility on completion dates, or being chain-free, can win a deal at a lower price than a stronger-looking rival.
Build rapport with the seller and agent — people prefer to sell to a buyer they trust to complete. And the more diligence you've already done, the more credibly you can commit, which reassures a seller you won't renegotiate or drop out later.
After your offer is accepted
Acceptance isn't the finish line — it's the start of the risky window before exchange. Instruct a conveyancer immediately, get searches ordered, book your survey, and keep the chain moving. Speed is your best protection against being gazumped during that gap.
Because the deal isn't binding until exchange, momentum matters. The government's reform roadmap aims to shorten this exposure with earlier binding commitment, but until that lands, the buyer who has done their homework and moves quickly is the one least likely to lose the property.
Frequently asked questions
How much below the asking price should I offer?
There's no fixed rule — it depends on the local market, how the asking compares to recent sold prices, the property's condition and how long it's been listed. Use comparable evidence rather than a blanket percentage, and let the findings on the property justify your number.
Is my offer legally binding?
No. In England and Wales nothing is binding until exchange of contracts, so either side can withdraw or change the price beforehand. That's also why gazumping is possible — and why moving quickly to exchange matters.
Should I get a mortgage agreement in principle before offering?
Yes. It shows the seller you can actually fund the purchase and tells you what you can borrow before you commit emotionally. Many agents now expect to see one before they'll take an offer seriously.