Can we put in an offer on a house if it is sold subject to contract?

My wife and I are looking at houses to buy.

We fell in love with one we viewed a couple of weeks ago, but didn't make an offer as we didn't know the area it was in very well.

We now regret not doing so, but have spotted that the house is now sold subject to contract.

What does this mean and can we still make an offer?

Jane Denton, of the Daily Mail, replies: If you see a house you like in a popular area, it is important to act quickly.

I appreciate you weren't 100 per cent sure of the location of the property, but the market moves fast in many areas.

The house you fell in love with was obviously appealing to other people, as it is now sold subject to contract.

This means that the seller has accepted an offer from a prospective buyer for the house.

However, at this point, in England and Wales at least, the sale is yet be legally binding as contracts have not been exchanged and the conveyancing process has not been completed. In Scotland, the deal would be legally binding at this point.

What you are considering doing is gazumping the person who has had their offer accepted on the house you now want. This means, if your pockets are deep enough, you'll be submitting an offer higher than the seller has already accepted.

In England and Wales, there is nothing from a legal perspective stopping you from getting in touch with the estate agency selling the house and putting in your own offer.

Unsurprisingly, the lack of regulation or laws in this area is the subject of significant debate and controversy.

The seller of the house you like can accept your offer if they choose to.

If you are in a much better position than the current buyer, by for example being a cash buyer or chain-free, your offer may be more likely to be accepted.

However, don't expect this to all go your own way.

Not all sellers will be happy to accept other offers and may well view the concept of gazumping with disdain.

I have asked two experts for their thoughts on your question.

Liam Gretton, owner of Liam Gretton Bespoke Estate Agent, on Wirral Peninsula, says: At some point in their career every estate agent would have received this question, and it's completely understandable, especially when you find a property you fall head over heels for.

When a property is marked as under offer, sale agreed or sold subject to contract, it means the seller has accepted an offer, and both parties are working toward completing the sale through the legal conveyancing process.

However, it is important to note that until contracts are exchanged, the sale is not legally binding in England and Wales.

This means the seller is still legally entitled to consider other offers, although doing so can understandably be a sensitive matter.

While it is legally permissible to submit an offer at this stage, it is important to consider the moral implications of gazumping.

The original buyer may have already invested significant time and money into the transaction, often spending thousands on surveys, legal fees, and mortgage arrangements.

Gazumping can result in real financial and emotional loss for those buyers.

For that reason, many sellers choose to honour their original agreement unless there are serious concerns or delays.

Now, can you still make an offer? Yes, you can.

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Legally, estate agents are obligated to pass on all offers to the seller up until the point of exchange of contracts, unless the seller has provided written instructions to the contrary.

If you have revisited your decision and would now like to proceed, the best course of action is to contact the selling agent by phone and email and submit a clear, formal offer with details of your position, including whether you are a cash buyer, if you are chain-free and whether you have a mortgage in principle.

A clear and well-positioned offer can still be of interest to the seller, especially if there are delays or concerns with the current buyer.

Sellers may still consider a new offer, however most will weigh this carefully against the progress already made.

The agent won't be able to tell you the amount of the existing offer, unless the seller has given them permission.

If you are thinking of making an offer, do so with respect and transparency. It is not about disrupting a sale, but about offering a serious alternative if things aren't moving forward.

Amy Reynolds, head of sales at Richmond estate agency Antony Roberts, says: The short answer is, yes, you can still make an offer.

When a property is marked as sold subject to contract, it means an offer has been accepted, but contracts haven't yet been exchanged.

Until that exchange takes place – often several weeks later – the sale isn't legally binding, and the seller is still allowed to consider other offers.

If you've done your homework and feel confident this is the right house, you can submit an offer.

This practice is known as gazumping – where a seller accepts a higher offer after already agreeing to sell to someone else.

Gazumping is legal in England and Wales, although many see it as ethically questionable.

Some sellers won't entertain other offers once they've agreed terms, especially if they've built a rapport with the buyer or are committed to a chain.

Others might welcome a higher offer or use it as leverage to push the existing buyer to increase theirs.

The key thing to understand is that making a late offer doesn't guarantee success.

The seller might decide to stay loyal to their original buyer. Or they may ask both parties to submit their best-and-final bids.

Some buyers respond to being gazumped by pulling out entirely – so there's always a risk the seller could lose both deals and a good agent should explain this to the vendor.

If you do want to proceed, contact the estate agent handling the sale and explain that you would like to submit a serious offer.

Make it clear you are in a strong position if that is the case – the more attractive your circumstances, the more compelling your offer will be.

Be aware, though, that gazumping can make things uncomfortable for everyone involved.

And if you're in a similar position later on – under offer, waiting to exchange –it's worth remembering how it feels to be gazumped.