You have found a property in Lincoln that you want to buy, viewed it and decided it could be the right home. The next question is how much to offer and how to give yourself a good chance of having that offer accepted.
There is no set amount you should offer below or above the asking price. The right approach will depend on the property, its asking price, local demand, how long it has been for sale and how much you are personally prepared to pay for it.
Your position as a buyer matters too. A first time buyer with an Agreement in Principle and deposit ready may be attractive to a seller because there is no property to sell first. Someone moving home may have an equally strong position if their existing property is already under offer.
Before you start negotiating, you should know the maximum you can afford and be prepared to walk away if the price moves beyond it.
Be Ready Before You Make an Offer
A strong offer is about more than the amount of money you put forward.
Before approaching the estate agent, it helps to have a clear understanding of your mortgage budget, the deposit you have available and the additional costs involved in buying the property.
Having an Agreement in Principle can support your position. It gives an indication of how much a lender may be prepared to offer based on an initial assessment, subject to a full mortgage application and the lender’s criteria.
An Agreement in Principle is not a mortgage offer, although it can show the estate agent and seller that you have already considered how you intend to fund the purchase.
You should also make your position as a buyer clear. If you are a first time buyer in Lincoln, you will usually have no property chain behind you.
If you are moving home, being under offer on your current property can put you in a stronger position than approaching a seller before your own home has sold.
A seller may consider all of this alongside the price you offer. The highest offer is not necessarily the most straightforward one if another buyer appears to be in a stronger position to proceed.
Knowing your maximum budget before negotiations begin is equally important. If the seller comes back with a counteroffer, you can decide whether the property remains affordable rather than increasing your offer without considering the effect on your finances.
Work Out What the Property Is Worth to You
The asking price is the seller’s starting point. It does not automatically tell you what you should offer.
Look at comparable properties that have recently sold nearby and consider how they differ from the home you want to buy. Size, condition, parking, outdoor space, extensions and the exact location can all affect what buyers are prepared to pay.
It is also worth considering how long the property has been on the market. A newly listed home attracting several interested buyers may leave less room for negotiation than a property that has been available for some time without selling.
The condition of the home should form part of your thinking as well. A property requiring substantial work may affect what you are comfortable paying, particularly if you will need to budget for improvements after completion.
An offer below the asking price may be reasonable in some circumstances, particularly if there is less competition for the property or the seller appears open to negotiation.
If several buyers are interested in the same home, there may be less room to negotiate. In this situation, offering significantly below the asking price could reduce your chances of securing the property.
Before making an offer, decide on the maximum price you would be comfortable paying. This should reflect your budget and what the property is worth to you, rather than how determined you are to outbid another buyer.
Make Your Offer Clear and Strengthen Your Position
Offers are usually made through the estate agent marketing the property. Once you have decided on a figure, tell the agent exactly what you are offering and make sure they understand your buying position.
If you are a first time buyer with no property to sell, have your deposit available and already hold an Agreement in Principle, make this clear when submitting your offer. A seller who wants to move relatively quickly may value a buyer who appears ready to proceed.
If you are buying with a mortgage, you can also explain that you have already started looking at your mortgage options. An Agreement in Principle should not be presented as guaranteed mortgage approval, as the lender will still need to assess your full application and the property.
The seller can accept your offer, reject it or come back with a different figure.
If your offer is rejected, you do not have to increase it immediately. Consider how much room you have between your original offer and maximum budget, and whether the property still represents good value to you at a higher price.
You may go through several offers before reaching an agreement. Keep each increase considered rather than allowing the negotiation to take you beyond the limit you originally set.
If several people want the property, you may be asked for your best and final offer. In that situation, offer an amount you would genuinely be comfortable paying if it were accepted. Trying to predict another buyer’s maximum can quickly lead to offering more than you intended.
What to Do When Your Offer Is Accepted
Once the seller accepts your offer, ask the estate agent to confirm the agreed price and make sure they have the details needed to progress the sale.
If you are buying with a mortgage, this is the point at which you can move from an Agreement in Principle towards your full mortgage application. Let us know that your offer has been accepted so our mortgage advisors can progress the mortgage side of your purchase.
Your lender will assess the full application and will usually arrange a mortgage valuation of the property. The agreed purchase price does not automatically mean the lender will value the property at the same amount.
You will also need your conveyancer to begin the legal work associated with the purchase, and you may decide to arrange a property survey depending on the home you are buying.
It is important to understand that having an offer accepted in England does not normally make the purchase legally binding. Until contracts are exchanged, either side can withdraw from the transaction.
Another buyer could also make an offer before exchange. If a seller accepts a higher offer from somebody else after previously accepting yours, this is commonly known as gazumping.
An accepted offer is an important step, but there is still work to complete before the property becomes legally yours.
Date Last Edited: 19/08/2026
