Negotiating on price. Home buying advice and tips on dealing with estate agents
Never worry that offering less will lose you a home, or offend the seller. It's simply a case of using the right approach to negotiating house price
Negotiating house price with agents could save you £1,000s off the asking price
Estate agents will be friendly and helpful. But always remember, they're skilled negotiators aiming to sell for a maximum price.
When you show interest in buying a home, they may suggest you offer the full price or very close. Treat this as negotiating tactics.
One thing is certain in 2008. Negotiating power has shifted to buyers when negotiating on price
Getting a mortgage is much tougher. Repayments much higher. Sellers will have to take realistic offers or face not selling.
Be decisive and firm when making an offer and negotiating price
- Estate agents will often sense when a buyer can be persuaded to keep increasing their offer
- When negotiating with estate agents, show from the outset you're a credible buyer, but you won't overpay
Expect the agent to ask for more money - don't offer more too readily
Your opening offer to buy a home is unlikely to be accepted. Estate agents will use all their negotiating skill to achieve the highest price.
Be aware of estate agents' negotiating tactics targeting the highest price. Know how to respond. Negotiate firmly to keep the price down.
- Plan and prepare before negotiating house price
- It'll help keep any increase in your offer to a minimum
Don't reveal information that weakens your negotiating position
- Buyers sometimes unintentionally help agents
- Know how to avoid comments that can undermine your bargaining position
Negotiate after survey
The lender may require work. Your surveyor may suggest essential repairs. The EstateForum site gives advice and tips on re-negotiating price.
Could you wing it? Make you offer then play it by ear?
Yes, of course you could.
But it probably won't get you the best deal. Agents are very good at persuading buyers to pay more. They do it all day long.
Always remember, however friendly and helpful the agent, it's their job to get the highest price.
The EstatesForum community site can help you get a better deal
Save a money by paying the lowest possible price. You'll find detailed guidance on dealing with agents. Home buying advice and tips that will help you negotiate better. To find more go to EstatesForum.co.uk
Sharing information benefits all buyers>>>
Negotiating house price better. Play to your strengths
Agents will use all their experience to sell for the highest price.
As a first time buyer with no chain, you're in a good position to negotiate on price.
Always offer less to start. Don't worry you'll lose the home. Agents will always ask for more
Always offer less than the asking price. Much less if appropriate.
Don't worry you'll lose the home or offend the seller.
Agents don't let good buyers lose homes. Just adopt the right negotiating tactics.
You'll find tips and home buying advice to help you negotiate better.
You could save £1000s to £10,000s
