Negotiating on price - in person or by phone

firsttimebuyer10

Hi guys

I've been lurking on this forum for a while as we're about to (attempt to) buy our first house.

Being a newbie to all this I'm not too familiar with the best way of negotiating a price.

Our first offer was made over the phone with the EA and has been refused, with no counter offer. Do you think it makes a difference whether any future offers are made over the phone or in person? We live about 45 minutes from the agents at the moment, so it's not particularly easy to go to them, but if it might help us to negotiate for a better price then it's obviously something we'd be willing to do.

Just wondered what your thoughts are?

Thanks

Yorkie1

I don't think it makes the slightest bit of difference. Whatever your offer is, and however it is made, it will be passed on to the sellers for them to consider.

tizerbelle

Personally no I don't think being there in person makes a difference. Don't forget the EA will still have to contact the seller and they might not answer the phone there and then or Mr Seller might then have to wait to speak to Mrs Seller to see if the offer is okay.

It's not uncommon for a first offer to get an outright rejection with no counter-offer. It's upto you to either walk away; increase your offer or ask the EA what offer would the seller accept bearing in mind - we aren't in a chain / have funds in place / the house needs completely gutting and rebuilding / recent sale prices in the area etc etc

CloudCuckooLand

The danger with being in person is getting involved in convoluted discussions, being swayed by points that are put across etc, such that you make a rash decision. Ok its not binding at this point, but it weakens your negotating position.

i.e Let the EA present offers. They come back to you in due course. Take their answer, hang up, then sleep on it, before contemplating a counter offer.

DVardysShadow

firsttimebuyer10 wrote: »

... Our first offer was made over the phone with the EA and has been refused, with no counter offer.

Best done over the phone. It slows your side of the process down - you can say I need time to {think, consult with my partner}. If an offer is refused, you need to just be keyed up to ask there and then "What might be an acceptable offer?" - otherwise you have to ring back which could be perceived as slightly weak.

theartfullodger

Face2face with seller in his front room:

After you have explained what a good prospect you are..(ready to move, no chain, money in the bank ready to go, don't need survey, flexible on move-out date, will take all his old fittings & furniture he don't want..... etc etc etc..)

After you have done the "Negotiation" course...

After you have spent 6 months buying & selling things for £150k - £500k...

Otherwise, on't 'phone to agent..

Cheers!

Artful

westlondonbuyer

tizerbelle wrote: »

It's not uncommon for a first offer to get an outright rejection with no counter-offer.

This has been my experience of house-buying this time round. No response to a first offer whatsoever.

The previous times I bought, it wasn't - we'd have a counter-offer almost the same day and have the deal agreed within 48 hours.

When did the rules change?:eek:

I've responded to the lack of dialogue by losing interest in buying, and renewing my rental lease for another six months.

poppysarah

You could ask (*by phone) what they are looking for.

When they say just laugh and say "not a chance, our original offer stands"

firsttimebuyer10

Thanks all, that seems pretty much unanimous then - and some good points to think about!

We've just put in our 2nd offer.... by phone :cool: