Mortgages

Putting in an offer

So, you've worked out how much you can borrow, scoured the area for the right home and finally found the place of your dreams - now it's time to put in an offer. If you're using an estate agent, then you need to decide how much you want to pay, and instruct the agent to make the offer. The seller will let you know whether they accept.

Remember, although the selling price is what the seller expects to receive, they might accept a lower offer for a quick sale.

Gazumping

Gazumping is when you have had an offer accepted on a house, but then the seller accepts a higher offer from another buyer. It's illegal to do this in Scotland, but it still happens frequently in England and Wales. If you are gazumped, think carefully before you offer a higher price – the same might happen again!

Remember, don't offer more than you can afford.