Buying a house? Time to brush up on your negotiation skills

26th March 2015

A recent survey by the National Association of Estate Agents has revealed nearly three quarters of houses purchased in January were sold for less than their asking price. This is an encouraging sign that buyers are back in a position to negotiate.

73 per cent of homes were sold for a lower price than advertised, which is 17 per cent more than the same time last year. The space for negotiation also seems to have given the housing market a boost having been at a seasonal low in December.

As predicted, with a general election on the way there is an indication that supply and demand is cooling off. Nevertheless, this clearly an ideal time for those of you considering buying a new home to take the initiative and get negotiating – but it is important to negotiate terms carefully to ensure you get the best deal possible.

A key tip is to start low and give yourself room to manoeuvre. It is worth knowing how long the property has been on the market – if it has been on the market for a while, it may be that the price is too high or there are issues with the property. These factors can help you justify a lower offer.

Remember, when negotiating it is important to be realistic, do not get carried away and keep in mind stamp duty and moving costs. Use our conveyancing cost quotation tool to get a personalised, no obligation estimate of the legal costs involved in your move. At Ansons Solicitors our conveyancing team are experienced in helping our clients identify factors that might work in your favour to negotiate that perfect offer and secure that dream home.

For further information about the buying process and getting legal support, please contact Julie Tomasik in the conveyancing team, on 01543 267 988 or email Ansons Solicitors has offices in Cannock and Lichfield, Staffordshire.