🔑 Making an Offer: What You Need to Know
So, you’ve found the perfect property. What now? Making an offer is a major milestone in the buying journey, and doing it right could mean the difference between securing your dream home and missing out. Working with experienced professionals like David Clarke Estate Agents, trusted estate agents in Herne Bay and Whitstable, ensures you receive the right advice from the start.
Before making your offer, it’s important to do some homework. What are similar properties in the area selling for? Is the property you’re interested in in need of renovation? Has it been on the market for a long time? These factors can help shape a realistic yet competitive offer that reflects the true value.
A strong offer starts with having your finances in order. A mortgage Agreement in Principle (AIP) proves to both your agent and the seller that you’re serious and capable of proceeding quickly. In a competitive market, that can make all the difference.
Remember, your offer isn’t just about price. If you’re a cash buyer, chain-free, or flexible on moving dates, make sure that’s known. Sellers value certainty and speed—two things that can sometimes outweigh a slightly higher offer from someone else.
When you submit your offer, your estate agent will pass it on to the seller in writing. Under UK law, this must be done promptly and accurately. It’s also a good idea to clarify whether you’re making an offer subject to conditions such as a satisfactory survey or planning permission.
Once your offer is accepted, the property will usually be marked as “Sold Subject to Contract (SSTC),” which means the sale isn’t legally binding just yet. At this stage, a solicitor or conveyancer will begin the legal work, and a property survey may be arranged. This is also when buyers tend to arrange a more detailed mortgage application.
It’s important to know that until contracts are exchanged, either party can withdraw. This is why having a responsive solicitor and a proactive estate agent—like David Clarke Estate Agents—can help move things along swiftly and reduce the risk of delays.
Be mindful of ‘gazumping’ too. This is when a seller accepts a higher offer from another buyer even after agreeing to yours. While it’s frustrating, it’s not illegal in England and Wales. Working with agents who are transparent and keep the process moving can minimise this risk.
If your offer is rejected, don’t worry. The seller may come back to you later, especially if higher offers fall through. You can also revise your offer—either increasing the amount or improving your position (such as becoming chain-free or speeding up your timeline).
Making an offer can be both exciting and nerve-wracking, but with local expertise from David Clarke Estate Agents, you can approach it confidently. Our friendly team of estate agents in Herne Bay and estate agents in Whitstable are here to help you make informed decisions based on property condition, market trends, and negotiation opportunities.
Get in touch with David Clarke Estate Agents today to discuss your next step—we’re here to help you turn interest into ownership.