Once you have found a property you want to buy, you will usually make your offer through the estate agent marketing it.

While making an offer is relatively straightforward, deciding how much to offer and understanding what happens afterwards can raise plenty of questions.

Knowing how the process works can help you prepare for the next stage of buying a home.

Get an Agreement in Principle

If you are buying with a mortgage, an Agreement in Principle can give you an indication of how much you may be able to borrow based on the information you have provided to a lender.

It is not a guarantee that your full mortgage application will be approved, though it can show the estate agent and seller that you have already started preparing your mortgage.

You should also know how much deposit you have available. Some mortgages may be available with a 5% deposit, while others can require 10% or more depending on the lender and mortgage product.

Having your deposit ready before you start making offers can help you set a realistic budget and move more quickly if you find a property you want to buy.

Estate agents also have responsibilities around identity and anti-money laundering checks. You may be asked for photographic identification and evidence showing where your deposit has come from before your offer can progress.

Deciding How Much To Offer

There is no fixed rule for deciding how much to offer on a property.

The asking price gives you a starting point, although it is not necessarily the amount the property will eventually sell for.

Looking at similar properties, how long the home has been on the market and the level of interest from other buyers can all help when deciding what you are comfortable paying.

If the property is attracting strong interest, you may decide to put forward your strongest offer from the outset. In other situations, you may prefer to leave some room for negotiation.

Whatever approach you take, keep the offer within a price you are comfortable paying. Your mortgage lender will carry out its own valuation, and if the property is valued below the price you have agreed, this could affect the mortgage available to you.

Putting Your Offer Forward

Once you have decided how much you want to offer, you will normally submit it through the estate agent handling the sale.

The estate agent will pass your offer to the seller and may also explain your position as a buyer.

If you already have an Agreement in Principle, are a first time buyer or have no property to sell, it is worth making this clear when your offer is submitted.

The seller does not have to choose the highest offer. They may also consider how straightforward they expect the purchase to be.

They can accept your offer, reject it or come back with a counter-offer. If negotiations continue, the estate agent will usually pass information between you and the seller until an agreement is reached.

When The Seller Accepts Your Offer

Once your offer is accepted, the property is usually marked as Sold Subject to Contract, often shortened to SSTC.

This means the seller has accepted your offer, although the purchase is not legally binding at this stage. In England and Wales, either party can still withdraw before contracts are exchanged.

If you are buying with a mortgage, this is usually when your full mortgage application moves forward.

Your lender will arrange a mortgage valuation, while your solicitor or conveyancer starts the legal work involved in the purchase.

You can also decide whether to arrange a separate property survey. A mortgage valuation is carried out for the lender and is different from a survey that looks more closely at the condition of the property.

If you have had an offer accepted on a property in Cardiff, our mortgage advisors can progress your mortgage application while the legal work is being carried out.

Having your documents ready and responding promptly to requests from your lender and solicitor can help reduce avoidable delays as the purchase moves towards exchange.

Can Another Buyer Still Make An Offer?

Yes. Until contracts have been exchanged, another buyer can still make an offer and the seller can choose to accept it.

If another buyer offers more after your offer has already been accepted and the seller decides to proceed with them instead, this is commonly known as gazumping.

Keeping your mortgage application and legal work moving cannot stop another buyer from making an offer, although it can reduce unnecessary delays before exchange.

Returning requested documents promptly and staying in contact with your solicitor or conveyancer can help keep your side of the purchase moving towards completion.

Date Last Edited: September 9, 2026