For the lucky few it will happen after just one viewing - for others it may take a series of viewings, but sooner or later an offer will probably materialise.

If you’ve been offered the asking price then you have no choice but to accept and collect solicitor’s details from your buyer. See the legal process for a list of what information needs to be swapped.

But for most, particularly in the current climate, that offer will come at some point below the asking price. The question is, how far below?

If you’ve been offered around 5% below your asking price then you need to do some serious thinking. On a £300,000 property that’s £15,000 less than the asking price. Your thinking should be based on how competitive your original asking price was. 5% below asking price is very common at the moment.

10% or more below and either you’ve misjudged your asking price or the buyer is trying their luck.

Thank them for their offer, but explain that it is too low and that (if this is the case) you’ve had slightly higher offers than that you’ve had to turn down too. Hopefully the buyer may then start to name a more realistic price.

If the prospective buyer is adamant about their offer and you are confident in your valuation then it may be time to ‘walk away’.

If they make an offer that you’re willing to accept, here comes the difficult part: you might not want to accept it there and then on the spot. Thank them for their offer, and tell them that you will get back to them shortly.

Discuss it with your partner, friend or family member. Later in the day or the next day you should go back to them.

Thank them for their offer and say that you’ve had a chance now to discuss it and you are happy to say that you are willing to accept the offer. Don’t sound to excitable, but finish the conversation on a positive note.

Why don’t you accept it on the spot? There is a real risk that if you immediately respond to an offer, the prospective buyer may think ‘if they accepted so quickly perhaps I should have offered slightly less’ - and indeed they may revise their offer.