Do your homework before you offer a penny

Before you pick up the phone to the estate agent, you need to know what the property is really worth. That means looking beyond the asking price. Check official sold price records for the same street or nearby roads. Look for similar properties — same number of bedrooms, similar condition, similar outdoor space — sold in the last six to twelve months. If the market has moved since then, adjust your thinking accordingly.

Also consider the seller’s situation. Has the property been on the market for months? Is it empty? Are they part of a chain? A seller who needs a quick sale is often more open to a sensible offer. And make sure you have a mortgage agreement in principle before you make any offer. It shows you are serious and gives you a clear budget.

Making your first offer: firm but fair

Your opening offer sets the tone. Go in too low and you risk insulting the seller — or being ignored. Go in too high and you leave money on the table. A good rule of thumb is to offer between 5% and 10% below the asking price, but only if you can justify it. The estate agent will ask for your reasoning, so have your evidence ready.

For example, you might say: “I’ve seen three similar houses on this road sell for between £280,000 and £295,000 in the last year. Given that this one needs a new kitchen, I’d like to offer £275,000.” That is specific, polite and hard to dismiss. Put your offer in writing, even if you make it over the phone first. It shows you are organised and serious.

• Don’t reveal your maximum. If the agent asks how high you can go, say you’d rather discuss the property’s value.
• Be ready to walk away. The strongest negotiating position is being willing to lose the house.
• Ask about fixtures and fittings. Sometimes a seller will accept a lower price if they can take the garden furniture or the washing machine.

Responding to counteroffers without losing the plot

A counteroffer is not a rejection — it is an invitation to keep talking. When the agent comes back with a higher figure, don’t rush to meet it. Take a breath. Ask yourself: is this property still good value at that price? If not, say so politely. You can counter again, but each move should be smaller than the last. For instance, if you offered £275,000 and they want £290,000, you might come up to £280,000. That shows flexibility without giving away too much.

Use other terms as bargaining chips. Completion date, the amount of deposit, even the type of survey you will accept can matter to a seller. A chain-free buyer who can move quickly is often worth thousands of pounds to someone who needs to sell. If the seller won’t budge on price, ask if they will include the white goods or pay for the conveyancing. Small wins add up.

Using the survey as a negotiation tool

Once your offer is accepted, the real work begins. Instruct a full building survey, not just a mortgage valuation. A valuation tells the lender what the property is worth; a survey tells you what is wrong with it. Common findings include damp, roof damage, old wiring, or subsidence. These are not just headaches — they are legitimate reasons to renegotiate.

But be reasonable. You cannot ask for the full cost of every minor defect. Focus on serious, structural, or safety issues. For example, if the survey finds a leaking roof that will cost £6,000 to fix, you might ask the seller to reduce the price by £4,000 or to arrange the repair before completion. Get quotes from a reputable builder so you can back up your request with evidence. And remember: the seller is not obliged to agree. If they refuse, you can still proceed — or walk away. Knowing your walk-away point is just as important now as it was at offer stage.

Finalising the price before you exchange contracts

Until you exchange contracts, nothing is legally binding. That means either side can change their mind — or the seller can accept a higher offer from someone else. This is called gazumping, and it is more common in hot markets. So once you have agreed a revised price after the survey, move quickly. Confirm everything in writing with the estate agent, and set a deadline for exchange. Ten working days is reasonable in most cases.

Before you exchange, double-check the final figure. It should include any reduction you negotiated, and it should be reflected in the contract. Make sure your solicitor has seen all the paperwork, and that your mortgage offer matches the agreed price. If the survey revealed problems that the seller agreed to fix, get a written confirmation of when and how they will do it. Once you exchange, you are committed. So take your time to get it right — but don’t drag your feet. A smooth, prompt exchange keeps the seller on side and reduces the risk of last-minute surprises.

Negotiating a house price is not about winning or losing. It is about reaching a fair deal that you can afford and live with. Do your research, stay calm, and remember that every property is unique. With a little patience and a clear head, you will get there.