Q&A: How can you negotiate with vendors?
Most agents set a guide price slightly above of the figure that they expect to achieve for a property, but the precise level which a vendor will accept depends on a number of matters, the most important of which will be the number of competing bidders and the overall market conditions.
The more secure you appear to be as a buyer, then the stronger your negotiating position will be i.e. if you are a cash buyer and not subject to the sale of your own house or a mortgage, then the better the position you are in to offer a lower price. In a declining market there are better deals to be done than in a rising market. Then it is up to your judgement as to who else is bidding!
