Negotiating can seem a little intimidating, especially if this is your first time. But, don’t worry, it’s easier than it sounds!
To give you the confidence to negotiate a good price on your home, we recommend having a quick read of the tips and tricks below.
Before you make your first offer…
1. Research local property prices 🏡
We always recommend getting a feel for the asking prices of homes currently on the market. You can do this by using sites like Rightmove and Zoopla.
Make sure you’re looking at homes that match your criteria. For example, ones with the same number of bedrooms and similar amenities nearby.
2. Check what they’re selling for 💰
The property market can change month-to-month, which can make a big difference between what asking prices are and what homes actually sell for.
You can find out what similar homes are selling for by searching “home selling prices near me”. Click on the top result from Rightmove, and search by the postcode of the home you’d like to buy with us.
Now, you’re ready to negotiate with the agent ☎️
1. Before you make your offer
Ask yourself whether the home really meets your needs. Does it have the right number of bedrooms? Does it have good schools or transport links nearby? Is there anything you don’t like about home?
If it ticks the right boxes, it’s time to call the estate agents.
When you make the call, be sure to speak with the agent who’ll present offers to the current owner, and who knows about the property.
Let them know you’re interested in the property but make sure you don’t seem overly keen. Tell the agent what you do and don’t like about the home.
Then, here’s what you should ask them:
Have any offers been made yet?
If yes, what level are the offers at?
Does the seller have a deadline in mind for when they’d like to complete by?
2. Making an offer 💰
Before you tell the agent your offer, think about the information they’ve given you so far. You may want to lower it if:
There’s been little interest in the home
Other people have made offers below the asking price
The seller wants to move very quickly
If it still feels right, tell them what you’d like to offer for the home, then wait for their response. Don’t justify the amount.
See what their feedback is on your first offer. Then, when you’ve made an offer that the agent is happy to take to the seller, get an email address for the agent and offer to send them your proof of funds.
Important! You can only make an offer up to the asking price. There’s more information about why on this FAQ.
3. Confirming your offer ✅
Email the agent to confirm your offer and attach your:
Wayhome Agreement In Principle (AIP)
Proof of funds (bank statements for your full deposit)
Then, you can sit back, relax and wait to see if your offer is accepted…
If it‘s rejected, don’t worry, you can contact the agent to find out the amount the seller would be happy to accept and try to get them to come back with a counter-offer.
IMPORTANT! Once you have had an offer accepted we’ll arrange for a valuation
survey to be completed. If the valuation comes back at a lower price than the
one you have agreed we wouldn’t be able to proceed with the purchase at that
price.