Putting in an offer

When you put in an offer depends on where you are buying a property:

Making an offer in England, Wales or Northern Ireland 

Making an offer in Scotland

Regardless of where you are buying a property, you need to let estate agents know you are 100% serious about buying. Letting them know you have an online Mortgage Promise can really help to prove this.

 Making an offer in England, Wales or Northern Ireland

You'll need to make your offer through the seller's estate agent. They will contact the seller on your behalf with your offer. But first…ask yourself a few questions.

• How much do you want the property?
• How much can you spend to get it and are other people interested?
• Bear in mind all the information you have gathered on your viewings – does it need a lot of work doing to it, has it been on the market a while?

It's not all about the highest offer – a seller might choose the offer they think will benefit them the most, for example, a first time buyer may be able to move quickly and this could be more important to them than a slightly higher offer.

Discuss your offer with the estate agent – make it as tempting as possible, for example, make it known if you can move immediately.

If your offer isn't accepted – think about how much you want the property and whether you can afford to increase your initial offer. The estate agent may be able to offer advice on other offers in the pipeline and how much you may need to offer to secure the property.

Gazumping -one thing to beware of is “gazumping”. It happens rarely but it is something you should be aware of.

It's what happens when you are out-bid by a rival buyer when you have had an offer accepted. If their offer is higher and the seller decides to accept it (for example because they need more money for their next property) you sadly lose out. You could even lose money already spent on your conveyancing - unless you are insured through your conveyancer.

Your offer is accepted?

Great news – now you need to start your mortgage application. You can start your Halifax mortgage online , in branch or over the phone. It's up to you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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 Making an offer in Scotland

Brilliant, at last you have found the home you truly want – but how much is it worth?

To find out for sure, you arrange a valuation/survey before you make your offer. Your conveyancer then puts your offer in writing - including a price, date of entry, and a series of conditions regarding the property. To gauge other property values in the area visit upmystreet . Here you will get an idea of how much the property is worth.

The seller invites offers in excess of the asking price through a sealed bids system, where all interested parties make their bid in writing. When you make your bid, try to avoid a rounded figure - instead try an odd amount, such as £100,101. The aim is to avoid a tie with the other bidders.

If your bid is successful, the seller's conveyancer then replies with an answer to your bid and their conditions. The exchange of letters, known as missives, continues until all differences are resolved. Once everyone is happy, the well-known phrase, “we hold the bargain as concluded”, is spoken and the contract is binding.

Your offer's accepted?

Well done! Now it's time to arrange your mortgage.

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Your home may be repossessed if you do not keep up repayments on your mortgage