How to make an offer on a house – and increase your chances of it being accepted?

Buying a new home will always come with stress – weeks or months of wasted, failed and anti-climax viewings – where the pictures bear pretty much no resemblance to the house you actually visited.

Which is why it’s very important to tread carefully when you do find the perfect property, especially if you want to negotiate an offer (often quoted by experts as the best way to start a sale.)

1. Do your homework

Before making any offer, it’s important to devote time to researching the property and its vendor. Not only will this help to determine if it really is as perfect for you as you thought, but it will also help you to decide on the best offer you can make.

Buyer demand is important. Try comparing property websites in the area to find out what the going rates are for similar homes – this will give you valuable insight into the current value of the property – and any competition you are up against.

If you find your type of property is ‘rare’ in the area, for example if it’s got a unique conversion or is an end of terrace, it’s likely demand will be higher, meaning the seller will have the upper-hand. Be prepared for this when you choose your offer.

Always ask your estate agent lots of questions about the seller. How long have they lived in the property for? How long have they been trying to sell the property for? What is their motivation for moving? Are they in a chain?

All this information is ammunition and will help you measure your offer and buying strategy against what you know of the seller. For example, if the sellers are in a hurry to sell or have been trying to sell for a long time, they may be willing to accept a lower offer to make a quick sale. Whereas sellers who are not looking to move quickly are more likely to hold out for a higher price.

2. Set the bar

Armed with a better understanding of the seller and of the property, it’s time to think about the price you would like to offer.

In the absence of much competition for the property, or the seller is looking for a quick sale, don’t be afraid to start low.

Some negotiation is expected while selling a house, but be careful not to make an offer so low, that you enter a lengthy bidding war. This could result in tension between the seller and you may end up losing the property altogether if someone else pops up with a higher bid.

If the property has already received some offers, you will need to take a very different approach and make your offer strong enough to overcome a multiple-bid situation.

Estate agents can’t legally tell you how much the other offers were for, but they will usually indicate if they were close to the asking price, which can help to inform your own decision.

3. Show commitment

Once you’ve made your offer, it’s time to consider the other elements that can win you the property, especially if you’re facing competition. Make a point of what you can provide, the others may not be able to.

If you are a first-time buyer, you have no chain, which is great news for the seller.

This doesn’t mean you’ll instantly be their first pick, as there could be other first-time buyers or cash-buyers in the running.

Catching the seller’s eye by showing them that you are serious about their property can be a solid move. You can do this by committing to a moving date and letting them know that you are eager to start the buying process quickly.

All types of buyer benefit from making their financial situation very clear to the sellers. Send them proof that you have the deposit ready and that your mortgage has been pre-approved as part of your offer.

If you already own a property, you can show the sellers that you are serious by proving to them that you already have your own property on the market and have secured a mortgage in principle.

If you have already accepted an offer on your property, or sold it, you will be in an even stronger position.

You can also let them know that you have a solicitor in place who is ready to arrange a survey and pay any fees in advance. This will reaffirm that you are committed to the property, and that you are ready to get the ball rolling.

4. Contact the seller

The usual format for a property purchases will involve an estate agent of some kind – whether that’s a traditional high street agent or a modern online agent.

While it’s sensible to employ an experienced third party to support a sale, communicating only through an agent can sometimes create a lack of communication between the buyer and the seller.

Selling a home can be an emotional time for a seller, especially if they have invested huge amounts of time and money into their property over the years.

A good move is to ask your agent to put you in touch with the seller so that you can personally reassure them that you will take care of their property and safeguard their investment, as this will naturally make them warm to you.

Dropping the seller an email, giving them a call or meeting face-to-face are all great ways to build trust. Let them know that you are in love with their property and that you hope they will accept your offer – this will keep you at the forefront of their mind when they come to make their choice.

5. The one condition…

If you really want to encourage stability for the process, something you may wish to attempt when making your offer would be letting the estate agent know that the offer is subject to the property being taken off the market and out of sight to other buyers. This will reduce any chances of you being ‘gazumped’ – when the vendor accepts your offer on a property, but then backs out in favour of a higher bid elsewhere.

Legally estate agents don’t have to comply to this condition, but if they do, it will protect you from anyone else coming along and taking the house from under you.

If you’re confident with your decision to buy the property, you could even offer a small deposit as a gesture of goodwill. This will reassure both parties that the sale is not going to fall through and therefore make the remainder of the sale proceedings a lot less stressful.