Negotiating Offers

Who Negotiates?

If you're using an estate agent, they'll handle negotiations on your behalf. This is advantageous — they have experience, create a buffer between you and the buyer, and can play hardball without damaging relationships. However, ensure you're involved in decisions and set clear parameters for what you'll accept.

If selling privately, you'll negotiate directly. Remain professional and unemotional. Avoid revealing your circumstances or urgency. Don't accept the first offer immediately unless it's your asking price — buyers expect some negotiation.

Receiving Offers

When an offer arrives, don't make immediate decisions. Get offers in writing via your estate agent or solicitor. Establish the buyer's position: mortgage approved, deposit available, in a chain, proposed timescale. Compare offers on overall merit, not just price.

A slightly lower offer from a cash buyer may be better than a higher offer from someone in a complex chain. Cash buyers offer certainty and speed — no mortgage valuation to fail, no chain to collapse.

Counter-Offers

If an offer is below your expectations, don't reject it immediately. Make a counter-offer. Come down slightly from your asking price to show willingness to negotiate while maintaining value. Justify your position with comparable sales or property features. Multiple rounds of negotiation are normal.

Gazumping

Gazumping occurs when you accept a higher offer after already accepting a lower one. It's legal but controversial. While tempting if a much higher offer arrives, consider the reputational damage and risk that the new buyer may be less reliable. Most sellers honour their initial acceptance.

Choosing Between Offers

Consider multiple factors beyond price:

A proceedable buyer offering slightly less may be preferable to a higher offer from someone in a lengthy chain. The certainty of completion is often worth more than a few thousand pounds on paper. Once you've accepted an offer, you'll need to instruct a conveyancer to handle the legal process.