Stupid Question about making an offer :)

[PetiteMum]

When you make an offer is it legally binding? Is it done through a solicitor? How long does it take? Is it best to go in lower than you know they will take and work your way up- or will that annoy sellers? Any other tips?

Its our first purchase and we're essentially clueless as you may have gathered

[Evenstar]

Assuming that you are in the UK, the offer isn't legally binding unless you are in Scotland you make the offer through the estate agent who is selling the house. Definitely best to start low, if you are not sure your own estate agent will know the market locally and might be able to advise you on figures to start and how high to go. I probably wouldn't expect to pay the asking price in the current market. Hope that helps.

[Fiddledee]

No its not legally binding. You make the offer straight to the estate agent that you've seen it with. What percentage/amount lower are you considering? Normally best to make a cheeky offer lower than you would like to pay, then one more offer around what you want to pay but not the top you can afford saving that til last - has worked for me in numerous transactions. Find out how long the property has been on the market - use property bee for this as the longer its been on hopefully the more of a discount you will get. Good luck.

When making an offer have your mortgage in principal letter or if you are a cash buyer proof of funds.

[mylovelymonster]

Be embarrassed by your first offer Be firm and business-like in negotiation, don't get hoodwinked drawn into a bidding war, know your upper limit and don't go beyond.
A thought - do you have a family member/close friend who has been through process a few times before and could be your mouthpiece for negotiating? Can be stressful dealing with agents.....
Have you checked Land Registry info on sold prices in the area?