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How To Negotiate When You Buy A House

Posted on Wednesday, November 14, 2012

If you are looking to buy a house, you will want to make sure you get the best property you can for your money. It is possible to secure a fantastic deal by negotiating the lowest price possible when you buy a new home.

Arrange A Property Survey

The house you have your eye on may look like it is worth your offer price, but you should get a survey done to find out if there are any major repairs that need doing.

If, for example, the house needs £5,000 work, deduct this amount from your offer price and explain to the vendor that you are offering less because you need to save the difference to pay for the work to be completed.

Do Your Homework

Websites such as Rightmove, Mouseprice and Zoopla make it very easy to find out how much other houses are selling for in your area.

If the seller wants much more than other houses on the street seem to be selling for, then offer less. Of course, if the house you are buying has had a brand new kitchen, bathroom and loft conversion completed then it will be worth more, so you need to be sensible when deciding if your house is worth the same as the other local properties.

Don’t Feel You Have To Offer The Asking Price

While several buyers were bidding against each other at the height of the property boom, this is much less common now. Chances are that you are the only person who is keen to buy this property, so you can start with a cheeky offer. The worst the seller can do is say no and ask you to come back with a more realistic figure, while the best that can happen is that they say yes and you land yourself a bargain.

If you are worried that other people may be interested in the property, ask your estate agent for advice before making an offer on a house.Putting an offer in is obviously very scary because this is one of the largest purchases you will ever make. However, if you stay calm and collected and do your research, you will be able to make sure you get a great deal when you buy your property.ends