Tips on how to negotiate price - Buyer

pardal51

How would you guys start negotiating these 2 properties?

1) http://www.rightmove.co.uk/property-for-sale/property-29212970.html

House Prices: http://www.houseprices.co.uk/e.php?q=leacroft+staines&n=50

2) http://www.rightmove.co.uk/property-for-sale/property-15825135.html

House Prices:http://www.houseprices.co.uk/e.php?q=the+glade+staines&n=50

Perelandra

pardal51 wrote: »

How would you guys start negotiating these 2 properties?

2) http://www.rightmove.co.uk/property-for-sale/property-15825135.html

House Prices:http://www.houseprices.co.uk/e.php?q=the+glade+staines&n=50

Just in case you haven't seen this, 2) is a timber-framed property. This may or may not deter you from the property itself (no logical reason why you should be, but some people just don't like them). For the house price history in that road you really need to check on the various extensions that have been built on the houses there to understand which of the prices are appropriate- some of them have no extension at all (as per the one you're looking at); other have garages or even full annexes built.

Houses in that road come up frequently; the one you've listed is slightly higher priced than others have been.

not_loaded

The Roger Dawson stuff makes great listening.

I remember (probably inaccurately) the story he tells when he had his boiler fixed by a guy who spent just 1 minute turning a screw. Roger, on seeing the huge bill for the fix, says: ‘I’m a nationally known speaker and I don’t make that much money.’ The repairman says: ‘Yeah, when I was a nationally known speaker I didn’t make that much money either.

But we digress. If you want to take brit1234’s advice (or ‘rewired’) then you can, but you’ll never buy. He’s waiting for a bus that ain’t coming, and boy, has he been standing at that bus stop for a long time!

I know those areas reasonably well, and I feel you’re by and large getting good information above, although I can’t comment on the specific percentages.

Remember that in offering, it’s a mix of psychology and maths, not just maths.

Keep your nerve and do your homework.

Good luck!

nollag2006

not_loaded wrote: »

... If you want to take brit1234’s advice (or ‘rewired’) then you can, but you’ll never buy. He’s waiting for a bus that ain’t coming, and boy, has he been standing at that bus stop for a long time!

Keep your nerve and do your homework.

Good luck!

Post of the week!!!

:rotfl::rotfl::rotfl:

nollag2006

brit1234 wrote: »

Don't belief what he has said we massively caught him out before lying on other threads.

As for Isleworth what StiflersMom says is rubbish. That's the area I have been watching for ages, all properties under £250k.

Really brit??

Just did a quick search on Isleworth on the £250 - 300k mark for 2 beds:
http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E715&minPrice=250000&maxPrice=300000&minBedrooms=2


32 properties on sale in that price range - but 52 if you include sale agreed

:eek::eek::eek:

Looks like a very busy market to me - indeed the evidence that I have seen on the BBC website also shows 20% rises for the area.

If you have anything specific to the locality that can contradicy this, please do share. Don't try to point at a few isolated examples on property bee. You need to try harder.

Procrastinator333

Do what everyone does and manipulate the statistics for your own ends.

So look at house price stats - LR / Nationwide / Halifax etc. look locally and look nationaly. Then take whichever shows the lowest growth / steepest decline and use that to put your case across.

looks like you were looking at sold prices. Find the ones within half a mile or so that look cheap in comparison. Again, pick out the ones that support your case. Ignore the others.

Then try, this index shows prices only grew x%, this house round the corner that is better because of X (exagerate) and sold for less only a few months back. Having looked round your house I have to do X, Y and Z. I therefore don't see how i can offer more than z.

Maybe go look round a similar priced house with the same agent. Make lots of happy comments about house number 2. Then tell the agent you would still take house 1 even though it isn't quite as good as house 1 if you can get it at the discounted price.

Make sure you use property bee to see what they have been doing - how long on the market, asking price drops / rises etc.


Anyway, that is my 2 pence. Good luck.

$$$_12

pardal51 wrote: »

Very useful info much appreciated

How would you define the house to "practice"? Wouldn't you get "blacklisted" for further house viewings (time-waster) by a estate agent(s) if you got a negotiation/offers accepted then pull out?

Ultimately there is no selling without a buyer. 1/3 of sales fall through. Unless you make it obvious or tell them there should be no reason why the estate agent thinks you are practicing.

Pick a house which is similar to the profile of your desired house but which you are not actually interested in. Sometimes this naturally happens - you become less interested in a house as you find out more about it. But that doesn't mean you have necessarily pull out straight away - you can still negotiate. If it was a lot cheaper - who knows - perhaps you would be willing to compromise.

I recently went to see a house that was a derelict. The EA claimed it had electricity and water on site - it did not. I told the estate agent at the current price I had absolutely no interest because of these reasons. They still asked me what price I would be interested in it - I said half the listing price (and cited similar houses/plots of land at my suggested price). Even if the EA comes back (and they promised they would if it was reduced that much ) - I probably won't take it but at least I had a bit more practice for a future real negotiation. The estate agent is still hugely keen to show me more properties as they are know I am serious enough to travel half way across the country to see one that fits my needs and I have the necessary funds.

Procastinator is offering good advice too. Most sellers will inevitably quote the Mail - because it is always bullish on house prices and widely read. Other sources are not so bullish. In many parts of the country it is definitely a buyers market.

Mr_Thrifty

just offer what u think it's worth and tell them that