Negotiating and making an offer

The asking price for a property is the price that the current owner would like to receive for that property. It should be a realistic figure within the price bracket given when the property was valued.

Knowledge of the property market in the area will help you to decide what to offer. If you are looking to buy in an area where there is a lot of competition, it is more likely that other potential buyers will offer the asking price. Your estate agent will be able to help you with local market knowledge.

What the seller will consider when you make an offer

Offering below or above the asking price

Other things to consider when making an offer

It is important to present yourself as an attractive buyer throughout the process, as this may give you an advantage over others when multiple offers are being assessed. If you are quick to respond to any correspondence, and have your mortgage approved in principle, then the seller and their respective agent may be more willing to sell their property to you.

Buying a property can be very stressful and emotional, and requires a degree of flexibility and compromise. By keeping your options open, and not pinning all your hopes on one property, disappointment can be minimised.

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