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Home Buying Guide: Negotiating: Introduction

Buying at Auction Pitfalls Buying at Auction Pitfalls Table of Contents How Much Should I Offer? How Much Should I Offer?

When you have found a home you are happy with, you are nearly ready to make an offer.

Follow the links below for detailed information and tips to guide you through each stage of the negotiating process.

Pre-Offer Checklist

Before making an offer, there are a few things you should check:
  • Keep an eye on the local and national housing market. Check that the house is worth the price you are willing to pay. Have a look at Land Registry reports for houses that have sold in the same area and compare asking prices with actual sale prices. The direction asking prices are heading is a good indicator of the local and national market. For more information about asking prices look at Home.co.uk's Asking Price Index

    When making comparisons between houses, bear in mind that its value can be increased by factors such as extensions, loft conversions, fitted kitchens, being in a good location, or being a brand new house. Similarly, the value can decrease, for example, because of extensions that fill the whole garden or being in a bad location.

  • Check whether the property is freehold or leasehold
  • Agree what fixtures and fittings will be included. Draw up a list of all items with the seller as this will avoid later confusion
  • You can also check things like planning permission, whether there are plans for new developments nearby (roads, new houses etc), and covenants, though these should be looked at by your solicitor later on during conveyancing

Buying at Auction Pitfalls Buying at Auction Pitfalls Table of Contents How Much Should I Offer? How Much Should I Offer?