Can you make an offer on a property after it has gone sale agreed?

Finding the perfect property can be exciting, but it can also be frustrating when you discover the home you love is already marked as 'sale agreed'. The good news is that, in many cases, you can still make an offer on a property after it has gone sale agreed.

In this guide, we'll explain what 'sale agreed' means, whether you can submit an offer, and what happens if a higher offer is received during the buying process.

What does 'sale agreed' mean?

When a property is listed as sale agreed, it means the seller has accepted an offer from a buyer. However, the sale is not yet legally binding.

At this stage, both parties are usually progressing through the conveyancing process, which may include:

• Arranging surveys and valuations
• Applying for a mortgage
• Conducting legal searches
• Reviewing contracts

In England and Wales, a property transaction only becomes legally binding once contracts have been exchanged. Until then, either party can withdraw from the sale.

What does 'sold subject to contract' mean?

You may also see a property described as sold subject to contract (SSTC). This means the seller has accepted an offer, but the sale is still subject to legal checks, mortgage approval and the exchange of contracts.

In England and Wales, a property marked as SSTC is not legally sold until contracts have been exchanged. This means there is still a possibility that the sale could fall through or that the seller could receive and consider another offer.

While the terms 'sale agreed' and 'sold subject to contract' are often used interchangeably, both indicate that an offer has been accepted and the transaction is progressing towards completion.

Can you make an offer on a sale agreed property?

Yes, you can.

Even if a property is marked as sale agreed, you are generally still able to submit an offer. The seller has the right to consider any offer received before contracts are exchanged.

Estate agents are legally required to pass on all offers to the seller promptly unless the seller has specifically instructed otherwise.

This means that if you find a property you are interested in, it may still be worth contacting the estate agent to discuss your options.

What happens if you make an offer after a property is sale agreed?

If you submit an offer on a sale agreed property, the seller will usually consider several factors, including:

• The value of your offer
• Your financial position
• Whether you are a cash buyer
• Whether you have a property to sell
• How quickly you can proceed

A higher offer may attract the seller's attention, but price is not always the deciding factor. Sellers often value certainty and may prefer a buyer who is chain-free or has mortgage approval in place.

The estate agent will present your offer to the seller, who can then decide whether to:

• Reject the offer and continue with the existing buyer
• Negotiate with you
• Accept your offer instead

What is gazumping?

If a seller accepts a higher offer from a new buyer after already agreeing a sale with someone else, this is known as gazumping.

Gazumping is legal in England and Wales, although it can be disappointing for the original buyer who may have already spent money on surveys, searches and legal fees.

While it doesn't happen in every transaction, it is one reason why buyers are often encouraged to move quickly once an offer has been accepted.

Should you make an offer on a sale agreed property?

Whether it's worth making an offer depends on your circumstances.

It may be worth considering if:

• The property is exactly what you're looking for
• You are in a strong buying position
• You can move quickly
• You are a cash buyer or have a mortgage agreement in principle

However, it's important to remember that the current buyer may still proceed successfully, so there is no guarantee your offer will be accepted.

Tips for making a strong offer

If you decide to make an offer on a sale agreed property, consider the following:

Demonstrate your financial readiness

Having a mortgage agreement in principle or proof of funds can help reassure the seller that you're a serious buyer.

Highlight your position

If you're chain-free, a first-time buyer or a cash buyer, make sure the estate agent and seller are aware.

Be realistic

While offering more money can make your offer more attractive, sellers will also consider how likely you are to complete the purchase.

Stay in contact

If the seller decides to continue with the original buyer, ask the estate agent if they would be willing to keep your details on file in case the sale falls through.

What if the sale falls through?

Property transactions can fall through for a variety of reasons, including:

• Mortgage applications being declined
• Issues uncovered during surveys
• Problems identified during legal searches
• A buyer changing their mind

If this happens, buyers who have already expressed an interest in the property may be contacted before it is re-marketed.

This is why it can be worthwhile registering your interest, even if a property is currently sale agreed.

The bottom line

A sale agreed property is not necessarily off the market. Until contracts are exchanged, sellers can still consider new offers and buyers can still express their interest.

If you've found a property you love, don't assume you've missed your chance. Speaking to the estate agent and understanding your options could help you secure your dream home.

At Your Move, our experienced local teams can guide you through every stage of the buying process and help you understand the latest opportunities in your area.
 

Contact your local expert

Frequently asked questions

Can I make an offer on a sale agreed property?

Yes. You can usually make an offer until contracts have been exchanged.

What does sale agreed mean?

It means the seller has accepted an offer, but the sale is not yet legally binding.

What is the difference between sale agreed and sold subject to contract?

There is very little difference in practice. Both terms mean the seller has accepted an offer, but the sale is not yet legally binding. The transaction only becomes legally binding when contracts are exchanged.

Can a seller accept another offer?

Yes. Before contracts are exchanged, sellers can consider and accept other offers.

What is gazumping?

'Gazumping' is when a seller accepts a higher offer after already agreeing to a sale with another buyer.

Do estate agents have to pass on my offer?

Yes, estate agents must usually pass all offers to the seller.

Is a sale agreed property still available?

Potentially. The sale can still fall through before contracts are exchanged.

What makes an offer attractive?

A strong offer, being chain-free, having a mortgage agreement in principle or being a cash buyer can all help.

When is a property sale legally binding?

A sale becomes legally binding when contracts are exchanged.