Bargaining is always appropriate. More than 66% of buyers in the UK are buying real estate is cheaper than asking the seller

When it comes time to make the most expensive purchase in your life, your own home in the UK, many buyers are ready for serious bargaining and, as a result, those who traded , do manage to save your money. What is the impact of bargaining when buying real estate? Mortgage brokers conducted a survey asking its customers for the last 5 years to tell me what was the initial offer of the buyer, as the negotiations took place and how much did they pay in the end.

The study showed that 73% of buyers sent the seller an offer below the asking price and 66% in the end bought the property at a price below that which was advertised. For comparison, in London only 60% of buyers have ventured to give the seller an offer at a price below the asking, fearing that he will refuse them. Better to bargain where demand for property is lower and there is competition among sellers. So, in the Midlands and Wales, 78% and 79%, respectively, offered the seller a price below the asking. In Wales 74% of buyers able to purchase real estate at a price below the asking as a result of negotiations, in Manchester and Birmingham successful bargaining was held to 69% .

Approximately 25% of those who paid for their new house or flat in England and Wales asking price or above, said it was the only house of their dreams, which they wanted to purchase and they had to compete with other buyers to it they are not gone. While 21% of buyers were forced to take part in the auction for the home of your dreams.

Specialists in UK property market suggest we are never afraid to bargain, as this market is very competitive and bargaining is an expected phenomenon. It will help you better to know the position of the seller regarding the property that you are interested in and may eventually save a substantial amount of money.

® Helen Entree. G. 03.11.2015

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