With the exception of Scotland, making an offer in the rest of the UK is not a legally binding contract and in a strong economy there may be a number of people who are interested in the property just like you.

Deciding how much you want to bid for a property depends upon various criteria. Prospective buyers should work out how long a property has been on the market, location, its structural strengths and weaknesses, as well as general property trends such as whether it is a buyers or sellers market.

Testing the seller by offering a lower price first is often recommended, especially if you are certain that the property has been on the market for a fairly long time.

There are three things that can then happen after the initial offer is put to the seller: Your offer will either be accepted, be rejected or opportunities will be given to other prospective buyers to put in their own bid. However, in a market in which property prices are rising or there is a lot of competition for a property, then it might be a worthwhile making a higher bid so as to negate the possibility of losing out – if the offer is rejected there is often an opportunity to go back to the seller and offer a higher price.

Even if you make an offer you should make sure you do not sign legally binding papers that bind you to purchasing the property - just in case a subsequent survey reveals major flaws in the property.

If and when your offer is accepted a solicitor should be appointed to handle the legal aspects. It is advised that as part of the deal you make sure the seller takes the property off the market.