First-timers failing to negotiate

30th June 2017

Data from Barclays Mortgages shows that 51% of buyers who made their first property purchase in the last five years regret not negotiating on the price. It also found that a fifth paid an average of £8,000 over the asking price – with this hitting £13,000 in London. Barclays said a fear of missing out on a property may have driven the failure to haggle and the inflated prices. With this in mind, the Telegraph offers advice to new buyers, saying they should: avoid rushing in; use an independent survey to negotiate a discount; and exploit the fact they are not in a chain.

The Daily Telegraph (24/06/2017)