The Offer

Once you’ve found a property, you will need to make an offer to the estate agent handling the sale. It’s important to remember that the estate agent is acting for the seller of the property and not for you – their commission is dependent on a sale being completed so they will not necessarily act in your best interests.

If your offer is accepted then the property will be sold subject to contract. However, until formal exchange of contracts takes place either party can decide not to proceed, usually without penalty.

If the estate agent asks you to put down either a holding deposit or a goodwill deposit or a reservation fee then you should talk to us before doing so. These sorts of deposit can be difficult to recover in the event of the purchase not proceeding and it is vital that steps are taken to protect your interests.