Receiving offers

Potential buyers come and look at your property. If they want to buy it, they make an offer through the estate agent.

Estate agents must tell you promptly and in writing about all offers they receive. If there are some you do not want to be told about, such as those below a certain amount, you must tell the estate agent in writing.

You don't have to accept the highest or the first offer. Unless you say otherwise, the agent should keep you informed of new offers as they come in even if you are considering selling to a particular buyer or have already accepted an offer.

If you have a ready, willing and able purchaser contract and an offer for the full asking price has been received from someone who is prepared and able to buy your property, the estate agent can claim commission from you even if you don't accept that offer.

Even after you accept an offer, both you and the buyer can renegotiate the price and/or conditions of sale, or pull out without penalty, up until contracts are exchanged or accepted.

However, if you have a ready, willing and able purchaser contract you may have to pay the agent if you withdraw before contracts are exchanged. It depends on what happens during negotiations.