Ways to reduce the asking price when buying a property (part 1)

Today we will cover some very practical tips which may help you get a better price when you are looking at a property. We suggest you take this list and print it, then as you are looking at a property check the various sections and use it as a rationale for your asking price, there may be things that were overlooked as well, so at worst this will help to ensure you don’t make unnecessary errors in deciding whether or not a certain property is good or not.

1. Is the garden in need of work? – If so you could ask that they either correct it or that you want more money off, a garden is generally a good selling point so if it is not well presented it can be a ‘red light’ telling you to go through the place with a fine toothed comb.

2. Does the fencing/walls need repair? – again, if there are any issues ask that they are remedied or they can discount the price by what it may cost to put the issue to rights. This goes for side gates/front gates/garden fences etc. Make sure they are all functional and open and close with ease.

3. Do Gutters or fascias need work? – This can be a real pain and badly working gutters can cause all types of problems from spillover which will put damp into walls or moss growing up the side of the building. Make sure the gutters are modern and well working. There are two times you should check out a property if possible, firstly on a rainy day, secondly at night (to gauge the area in the evening in terms of night activity – in particular any anti-social activity, and lighting – for security).

4. Is the chimney sound and working? – Apart from the obvious fire hazard, it is important to make sure the chimney isn’t cracked (check attic wall) or that there aren’t bird nests blocking it (doesn’t only happen in derelict houses!), any issues warrant a drop in asking prices.

5. Does the house need painting or decorating on the interior? This can sometimes be a ‘moving in task’, it doesn’t have to be, ask the seller to paint the place.

6. Are the windows and doors sound? (I made this error when buying my own home!) Check ALL of the windows and doors, make sure they open and shut easily and are fully functional, that means every window and door, if there are any issue the automatic solutions is as always ‘ask that it is put right or get a reduction in price’.

[We’ll cover more ideas in the near future, we have about 40 ideas in total]

The actual method you can use to ensure this happens is to ask that these things are listed and put in the contract and then a certain amount is held back by the solicitor until you have been able to check that everything on the list that was negotiated has been taken care of.

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