Surveys have shown that the group of buyers least likely to offer less than the asking price or to enter into negotiations when buying their home are first-time buyers. This is hardly surprising given they have, by definition, no experience in this field.
In contrast, the estate agent is selling property for clients all day, every day. They do this for a living. They also have another huge advantage. It’s not their money, it’s not their decision and it’s not their dream home!
This puts a motivated buyer at a significant disadvantage. This is where being organised, having a plan of attack and doing your best Meryl Streep or Kenneth Brannah-style acting performance can help you!
As with other things in life, being spoilt for choice will enable you to approach the negotiation in a stronger position. If you have three properties that you like you’re going to be a lot better placed to be a tough negotiator. And even if you don’t, if the seller’s agent thinks you do, that can’t hurt!
What can you do to improve your negotiating position? Here are a few simple tips that too many people ignore;
Last but not least, remember the old adage, ‘don’t ask and you don’t get’. You’d be amazed at what’s negotiable. Happy house-hunting!
Yesterday
Skipton Building Society launches ‘Delayed Start’ mortgage meaning first time buyers won’t be required to make repayments for the first three months.
According to a survey by Skipton, first time buyers who bought their home in the last five years found that in the first three months of living there, they were spending upwards of £30,000.
6 days ago
If you have recently moved into a property with a garden that requires a little TLC, or you’d like to get on top of your current green space, check out our tips.
9 days ago
High street lender, NatWest, have launched a new product to help first-time buyers purchase a property with assistance from a family member or friend to get them on the property ladder sooner.
10 days ago
‘Buy Now, Pay Later’ (BNPL) schemes, such as ‘Klarna’ are short-term loans that allow shoppers to make a purchase, but delay paying for it for an agreed amount of time.
Klarna is one of the most popular BNPL services with 18 million customers in the UK alone, and offers interest-free payment options which is appealing to shoppers. However, does it affect a mortgage application?
15 days ago
We look at how to get the best Buy to Let mortgage rate, what's in store going forward, and options as a landlord with increasing costs.
24 days ago
Throughout this past week, lenders have continued to reduce their mortgage rates giving borrowers in the UK some welcome news following the change in global tariffs under US President, Donald Trump.
24 days ago
Did you know that buying a house, or relocating is in the top 10 most stressful life events?
Stress of course is an unavoidable part of life and there are many reasons why people experience stress, not just buying a house!
There are lots of effective ways to manage and reduce stress, check out our tips to help you.
With the stamp duty relief ending in England and Northern Ireland, we have listed the top 10 cheapest areas for first-time buyers as published by Rightmove.