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Advise for Negotiating with the Vendor
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t-1000
Posts: 30 Forumite
Hi
Im looking at buying a house which a couple have just refurbished. The house has not gone on the market yet but they have had a valuation of £160K. I have been in contact with the owner during the refurb to ask how much they wanted etc and it is now ready for viewing and basically I have got the first chance of viewing the property. I am going to look at it early next week before it goes on the market. The house is in the ideal location for me & my girlfriend as it is close to her disabled dad, but im a bit agreeved at paying full wack. Anyone got any tips on negotiating with them? Im first time buyer I know they will want to sell quick as they probably want to move on to the next house to do up. I was thinking of starting at £155K and hope they accept. The houses certainly seem to sell quickly on the street as they do not come on the market too often. I know the couple paid around £105 for the house (sealed bid I was third originaly) so Im sure if they sell at £155 they will have made alot of profit.
Sorry about the long post
Thanks
Rich
Im looking at buying a house which a couple have just refurbished. The house has not gone on the market yet but they have had a valuation of £160K. I have been in contact with the owner during the refurb to ask how much they wanted etc and it is now ready for viewing and basically I have got the first chance of viewing the property. I am going to look at it early next week before it goes on the market. The house is in the ideal location for me & my girlfriend as it is close to her disabled dad, but im a bit agreeved at paying full wack. Anyone got any tips on negotiating with them? Im first time buyer I know they will want to sell quick as they probably want to move on to the next house to do up. I was thinking of starting at £155K and hope they accept. The houses certainly seem to sell quickly on the street as they do not come on the market too often. I know the couple paid around £105 for the house (sealed bid I was third originaly) so Im sure if they sell at £155 they will have made alot of profit.
Sorry about the long post
Thanks
Rich
0
Comments
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Go in at a bit under £155,000, which will probably be turned down then try to negotiate the price at 155k if they will accept nothing lower. £5,000 less than asking price is a pretty good offer for a house at that price.
Stress that you are a ftb & can move quickly & that by selling to you they will be saving on estate agents fees too seeing as you have been in touch with the vendor direct, & that this will maximise their profit.
Good luck anyway & let us know how you get on.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
I agree with Cattie....a house we considered buying....but didn't!...was on the market at it's current market value.
It has since come down just shy of ten thousand. The sellers are now desperate to sell and are more than willing to negotiate. I'd heard that they'd turned down previous offers over the new, lower price so they've really messed up.
Go for it, they can only say no.DO NOT MEDDLE IN THE AFFAIRS OF DRAGONS, FOR YOU ARE CRUNCHY AND TASTE GOOD WITH KETCHUP0 -
What have you got to lose? Give it a go....Do a deal with them before they put it on the market and save EA fees.....0
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