Negotiating best purchase price

Hamiltonc

Initial advertising - £325K

New guide price now - £300-£325K

Our ideal is to just under £300K or as close to it as possible

Thank you

Woodstok2000

Offer slightly more than the next highest bid.

BikingBud

https://forums.moneysavingexpert.com/discussion/6673255/negotiating-best-purchase-price

Not sure there is a question here but does your ideal include missing out on the property or buying the property?

What is £325k in your area? A 5 bedroom mansion or 1 room bedsit?

There might be many other factors that your curt post doesn't explain, such as how long it has been up for sale, how many house are currently for sale in the area, is the area sought after due to good facilities especially schools, does it need TLC and money to be spent, or is it ready to move in with new wiring, new roof, new kitchen, new bathroom, new boiler, etc

Only you know how much you "want" it and therefore how much you are willing to pay.

To us in our own little worlds it means nothing.

user1977

Never really understand the point of the guide price ranges - obviously the sellers can't argue they would never accept £300k.

Newbie_John

Well, you can offer £50k 😅

Check how much the property was last sold for - not many buyers are willing to sell for less. Check how long it's been listed for, if 1 month they will likely reject anything below 325k, if it's been there for over a year - try your luck with slightly below £300k. Also a lot depends on your circumstances - if you first time buyer / cash buyer (no chain with you) then lower offer may sound better. But if you're may be seen as difficult to get the mortgage then again no chance. Competition on market, many similar houses? If it's one bed flat in London - sure try lower, but if it's a 5 bed house up north with many similar selling for 350k then not worth it.

Try to look at it as you're selling the house, when would you accept lower and when not?

ExEstateAgent

Just offer what you think you feel is fair, without being too cheeky. The vendor can only say no (or yes).

If the offer is rejected you can then decide if you want to increase it.

RelievedSheff

Your ideal and the vendors ideal may well be in two very different ball parks.