While a negotiation may achieve a significant price reduction remember that this is your home and losing it especially in a fast-moving market for a price below which you were actually willing to pay would not be sensible.  It may be however that you have to put in an offer on a property before you have worked out the seller’s true position.

  • Start by offering below the level which you are willing to pay.
  • Accompany this with all the knowledge you have about comparable houses, the survey, cost of repairs from your survey and your position.
  • You can always raise this offer at a later stage.
  • Positioning your offer with this information shows that you are a serious buyer who has thought about the purchase and not just “chancing your arm”. This may irritate a seller, the last thing you want to do.

The estate agent must put all offers to the seller.  Dragging out a negotiation in small steps risks irritating the seller who may believe you are not negotiating in good faith.  And remember, this is your future home.

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Simpler Tip

Be sensible with your negotiating approach – use all the information you have but don’t risk losing the house at a price lower than you are prepared to pay.