Negotiating a House Sale: Tips for Getting Your Asking Price
Rule #1: Never Accept the First Offer
Unless the first offer is exactly your asking price (or above), you should almost always politely decline or make a counter-offer. Buyers expect a negotiation. If you accept a low offer immediately, they will wonder what is wrong with the house.
Evaluating Buyers
| Buyer Type | Strength | Weakness |
|---|---|---|
| First-Time Buyer (No Chain) | Can move fast, highly motivated | May have a tight budget/strict mortgage limits |
| Cash Buyer | Fastest completion, no mortgage delays | Will often demand a significant discount |
| Buyer in a Chain | Usually willing to pay asking price | High risk of the chain collapsing |
If your house is listed for £350,000 and someone offers £310,000, don't get offended. It's just business.
The Polite Rejection:
"Thank you for the offer. However, we have had a lot of interest and £310,000 is too far below our valuation. If you can increase your offer closer to the asking price, we would be happy to consider it."
The Counter-Offer:
If they offer £330,000, counter at £345,000. Meet them somewhere in the middle, but slightly closer to your end.
A buyer's position is just as important as their price. A £340,000 offer from a chain-free first-time buyer with a mortgage in principle is often much better than a £350,000 offer from someone who hasn't even put their own house on the market yet.