How do you make an offer on a house, and is it binding?
Tell the agent your offer, then confirm it in writing with your buying position, your mortgage decision in principle and your timescale.
In England and Wales an accepted offer is not legally binding until you exchange contracts. Until then either side can change their mind, so instruct a conveyancer and book the survey as soon as your offer is accepted.
When an offer becomes binding
GOV.UK describes a sale that is agreed but not yet exchanged as not legally binding. Exchange of contracts is the legal commitment, and pulling out after that can cost you your deposit.
| Stage | Bound? | What can still happen |
|---|---|---|
| You make an offer | No | You can change or withdraw it, and the seller can refuse it or wait for others |
| The seller accepts | No | Either side can renegotiate or pull out, and other buyers can still make offers |
| Survey, searches and mortgage offer | No | What they find can lead to a new price, or to either side walking away |
| Exchange of contracts | Yes | Withdrawing can mean losing your deposit. You need buildings insurance from this point |
| Completion | Yes | The rest of the money is paid and you own the home. GOV.UK says this is often 2 to 4 weeks after exchange |
Source: GOV.UK, How to buy a home.
What to put in your offer
Give the seller the facts that show you can get to exchange without delays. Decide your figure first, with our guide to how much to offer on a house.
- Price, and the sold prices that support it
- Your position: first-time buyer, nothing to sell, sale agreed on your home, or not yet on the market
- Your mortgage decision in principle, a lender's written estimate of what you can borrow
- Your deposit: how much, and where it is coming from
- Timescale: when you could exchange and move
- Conditions: subject to contract and survey, what is included, and that the home comes off the market
An example you can adapt
I would like to offer £[amount] for [address], subject to contract and survey.
I am a first-time buyer with nothing to sell. My mortgage decision in principle from [lender] is attached, and my deposit of £[amount] is in my own savings.
My conveyancer will be [firm]. My offer reflects the recent sales of similar homes listed below, and includes the [items]. It assumes the home is taken off the market once accepted.
Please pass this offer to the seller in writing and let me know when you have done so.
What the agent must do with your offer
The Estate Agents (Undesirable Practices) (No. 2) Order 1991 sets out what an agent must not do. It applies to every offer, including conditional ones.
| The agent must | The agent must not |
|---|---|
| Pass on accurate details of your offer to the seller, promptly and in writing | Knowingly or recklessly misrepresent whether other offers exist, or their details |
| Pass on every offer unless the seller has said in writing not to send offers of that kind | Misrepresent whether another buyer exists, their finances or how quickly they can exchange |
| Belong to an approved redress scheme | Treat you less favourably because you will not use services it offers |
Sources: Schedule 3, Schedule 2, GOV.UK, redress schemes.
The seller does not have to accept any offer, including the highest. If an agent will not resolve a complaint, ask which redress scheme it belongs to: The Property Ombudsman or the Property Redress Scheme.
Proof of funds and identity checks
Estate agents are covered by the money laundering rules. HMRC's guidance says the agent must finish its checks on you before contracts are exchanged, and recommends finishing them before your offer is accepted.
HMRC also tells agents to take extra care with cash buyers and to look at gifted deposits. Have your ID, proof of your deposit and your decision in principle ready, and a letter from anyone giving you money.
Sources: Money Laundering Regulations 2017, regulation 4, HMRC, AMLG2200.
Gazumping, gazundering and best and final offers
Because nothing binds until exchange, a seller can accept a higher offer from someone else after accepting yours. That is gazumping. A buyer cutting their offer just before exchange is gazundering.
In 2018 the government said it would not legislate to ban gazumping at that time, and looked to reservation agreements to reduce it.
Its roadmap, published in June 2026, plans to require binding conditional contracts once upfront sales packs are in place, when Parliament has time.
For now, ask the agent to stop marketing the home and to remove it from online portals once your offer is accepted, as GOV.UK suggests. Then instruct your conveyancer and book the survey promptly.
If several buyers are interested, the agent may ask each for a best and final offer by a deadline. Offer what you are willing to pay, up to your ceiling, and set out your position, because the seller can weigh more than price.
Sources: GOV.UK roadmap, government response, 2018, GOV.UK, How to buy a home.
What the listing should already tell you
Since 6 April 2025, the Digital Markets, Competition and Consumers Act 2024 has banned traders from leaving out material information a consumer needs to decide. Estate agents selling homes are covered.
The government's October 2025 consultation listed what is likely to be material, including the price, council tax, tenure and the years left on a lease, ground rent and service charges, flood risk, building safety defects and mining.
Broadband and mobile signal were on the list too, as was how the home is built, such as a thatched roof or prefabricated construction.
The consultation cited National Trading Standards data showing only about 35% of listings had adequate information, and said no sector-specific guidance had been produced since the 2024 Act took effect.
The government responded in June 2026, in its roadmap, and listed this guidance among its 2026 actions. We could not find it on GOV.UK on 19 October 2026, and the National Trading Standards page now refers to the plans for sales packs.
Sources: section 227, GOV.UK consultation, roadmap, National Trading Standards.
Ask for anything missing in writing before you offer. Our questions to ask the estate agent cover the usual gaps, and what to check before you offer covers the public records.
What happens after your offer is accepted
- The agent sends a memorandum of sale setting out the agreed offer and each side's legal representative.
- You ask the agent to stop marketing the home and to take down the online listings.
- The agent checks your identity, if it has not already.
- You instruct a conveyancer, who orders searches, reads the contract and title, and receives the seller’s property information form.
- You apply for your mortgage, and the lender values the home.
- You book a survey. See which house survey you need.
- You exchange contracts and pay the deposit, then complete and get the keys.
The government says it takes around 120 days on average from an accepted offer to completion, and that around one in three sales fall through. Budget for every fee along the way with our guide to the total cost of buying.
Ask the agent
- Has the seller had other offers, and are they still open?
- What position are the other buyers in?
- Is the seller in a chain, and have they found somewhere to buy?
- Will you take the home off the market and the portals once my offer is accepted?
- Do you need proof of my deposit and ID now, or when the offer is accepted?
To test an asking price before you offer, each district page compares it with local sales of the same type, as in NG5 in Nottingham. Our sold prices tool lists the individual sales for a postcode.
Related questions
Can an estate agent make up another offer to push my price up?
No. It is an undesirable practice for an agent to knowingly or recklessly misrepresent whether an offer exists, or its details. If you doubt a rival offer, ask the agent to confirm in writing that it has been made.
Will the estate agent check my identity?
Yes. Under the money laundering rules, HMRC says the agent must finish checking who you are before contracts are exchanged. It recommends that agents start early and finish before your offer is accepted.
What is a reservation agreement?
A voluntary contract in which buyer and seller commit early, sometimes with a deposit from each side. No law requires one, and the government's roadmap plans only to make people more aware of them.
Should I make my offer by phone or by email?
Either works, but put it in writing even if you phone first. The agent must pass it on in writing, and your own email is a record of exactly what you offered and on what terms.
Sources
- GOV.UK, How to buy a home
- legislation.gov.uk, Estate Agents (Undesirable Practices) (No. 2) Order 1991, Schedule 3
- legislation.gov.uk, Estate Agents (Undesirable Practices) (No. 2) Order 1991, Schedule 2
- legislation.gov.uk, Money Laundering Regulations 2017, regulation 4
- HMRC, Anti-money laundering guidance for supervised businesses, AMLG2200 (updated 13 October 2026)
- GOV.UK, Home buying and selling reform roadmap
- MHCLG, Improving the home buying and selling process: government response, April 2018
- GOV.UK, Material information in property listings consultation
- legislation.gov.uk, Digital Markets, Competition and Consumers Act 2024, section 227
- National Trading Standards, Material information
- GOV.UK, Registering with a redress scheme as a property agent