I’ve made an offer on a flat. How much negotiating is enough

[Pat Vegas]

This is new to me but quite fun. The seller said he won’t go under £5k under the asking price. But I I want to go £10k he said no. Meet in the middle? I can afford the asking price to be fair.

[Rich]

This is new to me but quite fun. The seller said he won’t go under £5k under the asking price. But I I want to go £10k he said no. Meet in the middle? I can afford the asking price to be fair.


How do you know he said no if you haven't offered £10k under.

I made a 'derisory' offer to start (it's just a starting point in a negotiation). Meant that when we did 'meet in the middle' it was less than I'd have paid had I made a more reasonable first offer.

[Pat Vegas]

I have done it this morning they insist on 5k less. Been on the market for 6 months according to my investigations

[Rich]

I have done it this morning they insist on 5k less. Been on the market for 6 months according to my investigations

Did the agent tell you that you he won't accept? If so, tell them that you are offering £10k less and don't have the budget to go higher.

[Pokster]

This is new to me but quite fun. The seller said he won’t go under £5k under the asking price. But I I want to go £10k he said no. Meet in the middle? I can afford the asking price to be fair.

Are you a cash buyer or do you need to seell your current gaf?

Are you looking to settle quickly?

Make them an offer and the agent is obliged to pass it on, just be careful about pissing off the sellers by going up in really small amounts each time

[Luis Anaconda]

Are you a cash buyer or do you need to seell your current gaf?

Are you looking to settle quickly?

Make them an offer and the agent is obliged to pass it on, just be careful about pissing off the sellers by going up in really small amounts each time

Speaking from experience? :yorkshire:

[Billy Goat Sverige]

This is new to me but quite fun. The seller said he won’t go under £5k under the asking price. But I I want to go £10k he said no. Meet in the middle? I can afford the asking price to be fair.

It’s boring here. You bid against other people who want it. So rather than negotiating it quickly becomes a dick measuring contest.

[Pat Vegas]

First time buying here with mortgage.

We offered 10 grand less he will take 5 less so I will go back with 7000 less so 2 grand lower than what he will go for. What a crap way for me to explain it.

Reason being there are potential future lease renewal costs

[Pokster]

Speaking from experience? :yorkshire:

Only on house/flat number 6.......

[Peter]

First time buying here with mortgage.

We offered 10 grand less he will take 5 less so I will go back with 7000 less so 2 grand lower than what he will go for. What a crap way for me to explain it.

Reason being there are potential future lease renewal costs

So now you just wait them out. Dont do anything.

[Rich]

So now you just wait them out. Dont do anything.

Also tell them that you've offered on another property that you prefer but are waiting on a decision from them.

[Luis Anaconda]

Also tell them that you've offered on another property that you prefer but are waiting on a decision from them.

Not really a tactic that has much pull when you are dealing through an intermediary who is likely to know all the tricks in the business. Not that it is much of a trick tbh

[Pokster]

First time buying here with mortgage.

We offered 10 grand less he will take 5 less so I will go back with 7000 less so 2 grand lower than what he will go for. What a crap way for me to explain it.

Reason being there are potential future lease renewal costs

I assume that the remaining lease is long enough to let you get a mortgage??

[Rich]

Not really a tactic that has much pull when you are dealing through an intermediary who is likely to know all the tricks in the business. Not that it is much of a trick tbh

They want to sell the house ASAP to get their commission/stop having to send people over to do viewings. They therefore want you to offer as much as possible.

I said I had found another place that I'd offered on. They told the seller I was in negotiations on another property. The next day the seller reluctantly accepted.

[Luis Anaconda]

They want to sell the house ASAP to get their commission/stop having to send people over to do viewings. They therefore want you to offer as much as possible.

I said I had found another place that I'd offered on. They told the seller I was in negotiations on another property. The next day the seller reluctantly accepted.

Still fairly confident the agent knew you were talking **** because a) he had met you b) you were clearly talking ****. Agents tell buyers/sellers all sort of *******s I doubt you really swung it with your cunning plan

[Luis Anaconda]

Still fairly confident the agent knew you were talking **** because a) he had met you b) you were clearly talking ****. Agents tell buyers/sellers all sort of *******s I doubt you really swung it with your cunning plan

In fact as the seller, I would actually be very reluctant to do business with someone who clearly prefered another house and could easily just be stringing me along :shrug:

[Herbert Augustus Chapman]

First time buying here with mortgage.

We offered 10 grand less he will take 5 less so I will go back with 7000 less so 2 grand lower than what he will go for. What a crap way for me to explain it.

Reason being there are potential future lease renewal costs

be ignored. Their is nothing 'potential' about future lease renewal costs. They are guaranteed AND considerable.

It is also a buyers market so stick by your very reasonable offer. He won't be selling it any time soon.

[Herbert Augustus Chapman]

http://www.awimb.com/showthread.php?604233-Buyingaflatwimb-Things-are-actually-starting-to-happen&p=4196572#post4196572

[Pat Vegas]

http://www.awimb.com/showthread.php?604233-Buyingaflatwimb-Things-are-actually-starting-to-happen&p=4196572#post4196572

:thumbup: thanks Mr Herbert

[Pat Vegas]

I assume that the remaining lease is long enough to let you get a mortgage??

Yep but may be a issue when I want to sell.
As I don't suspect we will stay in this place forever.

[Herbert Augustus Chapman]

:thumbup: thanks Mr Herbert

How long is left on the lease?

[bbrian]

How do you know he said no if you haven't offered £10k under.

I made a 'derisory' offer to start (it's just a starting point in a negotiation). Meant that when we did 'meet in the middle' it was less than I'd have paid had I made a more reasonable first offer.

You are Dick Law!! :sherlock:

[barrybueno]

How long is left on the lease?

yeah Pat, what he said... This lease **** is mucho importante. I heard years ago if there's less than 75 years left then move on.