You just visited a property, and you are interested in it: is it reasonable to make an offer lower than the asking price? Very concretely, this offer can allow you to make a good deal if the negotiation ends well. But it can also disqualify your offer: if the owner has already received offers at the asking price or does not wish to reduce the sale price, the apartment or house of your dreams might slip through your fingers. Discover all our tips for negotiating a sale price effectively and prudently.
Offering a Purchase Price Lower than the Asking Price, Not Always Effective!
When making an offer lower than the asking price, you know very well that you are taking a risk. The challenge here is to find the right balance between a price that is advantageous for you and one that is not prohibitive for the owner.
In some cases, your offer has every chance of being accepted: when the property has been on sale for a long time and the owner is struggling to find a buyer, or when it is a more or less urgent sale. On the other hand, for exceptional properties or those that receive many offers in a short time, this negotiation will have no chance of succeeding for you. Before you start, you must take the time to find out about the circumstances of the sale, with the aim of having as much context as possible at your disposal.
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To ensure you do not shoot yourself in the foot with an offer lower than the asking price, rely as much as possible on the real estate agency handling the sale. They can indicate the room for negotiation, for a transaction that is as beneficial as possible for you.
Checklist of Cases Compatible with an Offer Lower than the Asking Price
A Property on Sale for a Long Time
The longer the property has been on sale, the more likely the owner will accept a negotiation in your favor. If you make an offer lower than the asking price one or two weeks after the ad is published, for example, it is very likely to be declined. After a few months, however, the tide turns, and you are more in a position of strength.
An Overpriced Property
Before drafting an offer, gather as much information as possible about the market. This way, you will quickly know if the property is within the market price, above or below the usual prices. Logically, you have a better chance of successfully negotiating if the property is overpriced… And you can even use this argument to support your proposal.
Details that Facilitate Negotiation
In a house or an apartment, several characteristics can support a discount that will facilitate the negotiation of the sale price: thermal and/or acoustic insulation to be improved, a ground-floor apartment, the need to carry out significant work before moving in.
What is the Margin for Negotiation for Buying a Property?
Once you know what to rely on to make an offer lower than the asking price, one last question arises: what percentage reduction can you ask for? 5%, 10%, or even more?
While there is no rule applicable to all transactions, the support of a real estate professional is also decisive here to successfully carry out your project and buy at the best price, without risking having your offer disqualified for being too low.
