Offer on a House: How Long Do Sellers have to Respond in the UK?

Sellers typically respond to offers between 24-72 hours after receiving the offer. Selling a house is an exciting time, especially when you start to receive offers. However, knowing how to respond to buyers is crucial, even if you are in a seller’s market.

In this guide, we’ll take you through everything you need to know about receiving an offer on your house and how long you have to respond.

When Do Sellers Need to Respond to an Offer?

While there is no legal deadline that sellers have to respond by, it is ideal for sellers to respond within 24 hours. Most sellers typically respond within 24 to 72 hours after receiving an offer. Delays in response may occur if they ask their estate agent for advice.

Sellers can choose to accept the offer, reject the offer, or provide a counteroffer.

Read more about How to Negotiate a House Price as a Seller

How to Respond to an Offer

Depending on the above factors, there are three options you have when responding to an offer on a property:

Accept

You can choose to accept if you think that the buyer has made a good offer. Buyers tend to offer less than asking price and while this usually makes way for negotiations, some sellers will accept the initial offer. This could be because they want a quick move or have already purchased another property.

Negotiate

Some sellers will provide a counteroffer. This is usually more than the buyer’s offer but still under the full asking price. This will demonstrate that you are willing to compromise and increase the chances of reaching a final selling price that both parties are happy with.

You should speak to your estate agent for further advice on what is a realistic counteroffer.

Reject

If the offer is too low, you can reject the offer. Most sellers will provide a counteroffer rather than rejecting the offer outright with no follow-up. However, you may find that the buyer comes back with a counteroffer.

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What to Consider Before Accepting an Offer

Sellers need to consider a variety of factors before accepting an offer. These factors should be discussed with your estate agent before making your decision.

Market Conditions

Firstly, you should consider the current market conditions. If there is a lot of demand, you may be able to reject an offer you believe is too low since you have the upper hand. However, if you haven’t received a lot of demand and your potential buyer has offered less than the asking price, it may be wise to accept the offer.

Read more on What is a Cheeky Offer on a House?

Buyers’ Situation

Consider the buyers’ situation. If you’ve received an offer from someone who is chain-free such as a first-time buyer or cash buyer, you may want to consider this. Even if they have offered less than the asking price, having a buyer who is chain-free will minimise the risk of the transaction falling through.

Your Position

Lastly, always consider your position as the seller. You may feel inclined to accept the offer if you are in a hurry to move. On the other hand, many sellers tend to put their property on the market at a higher price point than market value. This gives them wiggle room to accept a buyer's offer if it is less than the asking price.

Do I Have to Accept the First Offer?

You do not have to accept the first offer. There are scenarios where it may be wise to accept a first offer and others where it definitely isn’t. For example, if the offer is good and the buyer seems reliable, then accepting the offer may be wise. However if you have doubts or the offer is low, you may not want to accept it.

One factor that will impact whether you accept the first offer is whether it is a buyer or seller’s market. Keep this in mind when selling your home. Another key factor is if you want to sell the home quickly. Ultimatley, it is your call as the seller to decide what you are willing to accept for the home.