A higher offer came in after I accepted one. Can I take it?

Getting a higher offer after you have already accepted one feels like a stroke of luck, and also a dilemma. The first thing to know is that you have time and you have options, so there is no need to rush the decision.

Gazumping is when a seller accepts a higher offer from a new buyer after already accepting one from someone else. It has a bad name because of the disappointment it causes the first buyer, but it is legal in England and Wales, and the real question is whether it is wise in your situation.

Is it legal to accept a higher offer after accepting one?

Yes, in England and Wales. An accepted offer is made subject to contract, which means it is not legally binding until contracts are formally exchanged between the two solicitors, a stage that can be many weeks away. Until exchange, either side can change their mind, which is also why a buyer can reduce their offer or walk away.

Scotland works differently. There, a sale becomes binding at an earlier stage once offers are formally accepted through solicitors, so this guidance applies to England and Wales.

Should you take the higher offer?

A late higher offer is only as good as the buyer behind it. Before you move, weigh how proven your current buyer is against how solid the new one looks, because a confirmed sale in progress can be worth more than a bigger number from an unknown buyer.

How do I decide without losing both buyers?

1. 1. Get the new offer in writing

   Ask your agent to put the new offer in writing with proof of funds and the buyer's position, whether cash, chain-free or at mortgage stage.

2. 2. Compare like for like

   Measure the new offer against your current buyer's real progress, not just the headline price.

3. 3. Work out the true gain

   Subtract any restart costs and the time you would lose if the new buyer later falls through, then see what is really left.

4. 4. Ask your current buyer first

   Consider giving your existing buyer the chance to match or improve their offer before you decide anything.

5. 5. Do not bank on a backup

   If you switch, expect the first buyer to walk and tell others, so do not rely on keeping them in reserve.

6. 6. Gate the big moves

   Whatever you choose, hold off the larger, irreversible steps until your chosen buyer has put their own money down.

What are the risks of gazumping your buyer?

• The original buyer almost always walks away, and you lose the progress already made on that sale.
• The new buyer could later gazunder you, reducing their offer near exchange, or pull out altogether.
• If you are in a chain, dropping a buyer can shake the whole chain and delay everyone.
• You may have to pay again for searches or legal work if the new buyer starts from scratch.
• Your reputation with the local agent and buyers can suffer, which matters in a small market.

The thread running through all of this is to read a buyer's commitment by what they have spent and instructed, not by what they say. A buyer who has paid for a survey and instructed a solicitor has shown you real intent, and that is worth weighing heavily against a higher number from someone who has done neither.

ValuQ gives UK homeowners free, side-by-side property valuations from competing local estate agents. The instruction and the timeline belong to you, so take the time to compare the two offers properly before you change course.

A higher offer is a promise. A buyer who has already paid for a survey is a commitment. Weigh the promise against the commitment before you decide.