Negotiating Guide

Now you have found your perfect property, you now need to make an offer on the property, for some who enjoy a good haggle this is a really enjoyable process, for others it is the worst thing imaginable.

Your best bet is to go in armed with as much information as possible:

  • Has an offer previously been made on the property
  • Has there been much interest
  • Check Zoopla to see what the suggested market value is (as a guide)
  • How long has the property been on the market if it has been on the market for 3 days they are unlikely to move much on the price(would you?) if it has been on the market for a year this is a good negotiating point
  • What fixtures and fittings are to be included in the sale
  • When was that flat roof last replaced/general state of repair
  • Does it need a new kitchen/bathroom (not just because you dont like it but because the old one is not usable)

Armed with all of this you make your offer, usually to the estate agent who will forward this to the vendor. Do not be afraid to offer what you feel the property is worth and sometimes a cheeky low offer can be accepted. On the other hand if you really do like the property and it is worth what they are asking for it it is sometimes worthwhile offering the full asking price to secure the deal.

Remember your situation can also be used as a bargaining tool either as a first time buyer, or someone who has sold with a small completed chain. This may sway the decision in your favour.

Set your limit and do not be afraid to walk away if your limit is exceeded.

Once the offer has been accepted you will receive written confirmation of this from the estate agent and you can now proceed with arranging your survey and finalising your mortgage, call us on 01702 619 221 to assist you with this.