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Anonymous asked in Business & FinanceRenting & Real Estate · 1 decade ago

How much can one negotiate when buying a house in London?

Hello, I am moving to London at the end of the year for work and looking to buy (from abroad). I have found some good sites to get an idea on house prices. However, how much can one negotiate on the asking price if at all? Any ballpark figures in % terms? Many thanks!

2 Answers

  • 1 decade ago
    Favourite answer

    I strongly recommend you rent for a while. The London housing market is complex and it will take you some time to get a feel for it. Renting means you will not be in a rush and will make a better decision.

    Generally you should decide what you think something is worth and offer that, I always ignore the sticker price. A good valuation rule of thumb is to see what the place will rent for and use a multiple of rent roll. Also recent sales information is useful but don't assume others have not made mistakes so use more than one datapoint.

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  • ?
    Lv 6
    1 decade ago

    you put in offer what you feel comfortable with say a house is on the market at £300,000 you put an offer at £290,000 if the agent or owner feels that is too low then they refuse if its reasonable then its done deal unless they get a higher offer from someone else at £310,000

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