In short
Before you accept, find out how the buyer is paying, whether they have a mortgage agreement in principle, whether they have a home to sell, and when they want to complete. In England and Wales an accepted offer is not legally binding until contracts are exchanged, so a strong, proceedable buyer is often worth more than a slightly higher one.
Last updated . Reviewed by FindYourAgent editorial.
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About the buyer
Your agent should already know most of this. Ask them to put it in writing.
- Cash, mortgage or a mix? Ask for proof of funds or a mortgage agreement in principle.
- Do they have a property to sell? Is it on the market, under offer, or already sold?
- How long is their chain, and are there any first-time buyers or investors in it?
- Have they instructed a conveyancer yet?
- Have they passed the agent's anti-money-laundering checks?
About the offer
Conditions can matter more than the price.
- Is the offer subject to anything — survey, sale of their home, fixtures included?
- What completion date do they want, and can you meet it?
- Are they asking for items to be included (white goods, curtains, garden furniture)? List them on the TA10.
- If you have several offers, ask the agent to set out each buyer's position side by side.
Once you have said yes
Move quickly. Speed protects the sale.
- Ask the agent to send the memorandum of sale to both conveyancers the same day.
- Decide whether the house stays on the market or is marked 'sold subject to contract'.
- Return your conveyancer's forms within days, not weeks.
- Diary a weekly check-in with your agent on progress.
Our take
Ask what the buyer needs to sell before they can buy, and believe the answer. A chain-free buyer at 2% less is often the better offer, because a sale that completes is the only one that pays.
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