To negotiate buying a house, research thoroughly (comps, seller motivation, market), make a strategic initial offer (often 5-10% below asking but not insultingly low), stay calm and objective, highlight your strengths (e.g., pre-approved mortgage, quick close), and be prepared to walk away while also negotiating on terms beyond price, like repairs or closing costs, to reach a win-win deal.
To politely ask for a lower price, be friendly and build rapport, then use phrases like "Is there any flexibility on the price?" or "What's your best price?" while showing genuine interest and explaining your budget constraints, and be prepared to make a reasonable counteroffer or ask for discounts on multiple items. Research market value first to make your request informed and realistic, and focus on finding a mutually beneficial compromise rather than demanding a reduction.
The 70/30 rule in negotiation is a guideline to listen 70% of the time and talk only 30%, focusing on understanding the other party's needs, motivations, and priorities through active listening and open-ended questions, which builds trust, reduces misunderstandings, and fosters collaborative solutions, making the other person feel heard and valued. This approach shifts the focus from simply stating your position to uncovering insights that lead to mutually beneficial agreements.
The "6-month rule" in property finance (mainly UK) is an industry guideline from UK Finance (formerly CML) where most mainstream lenders won't offer a new mortgage or remortgage on a property owned by the seller for less than six months, to prevent fraud and risky "back-to-back" transactions. Ownership starts from the Land Registry registration date, not completion. While not law, it stops quick flips, but specialist lenders or bridge-to-let products can offer solutions for those needing to refinance sooner, like after cash purchases or renovations.
A cheeky offer is a lower-than-asking bid on a house, often made in a buyer's market to secure a property at a better deal. Understanding the concept of a cheeky offer is important for anyone looking to buy a property in the UK, as it can be an effective strategy but also carries potential risks.
Information is Power — So Get It! Self-described "expert" lawyer-negotiators often enter negotiations with arguments intended to persuade the other side of the legitimacy of their positions. ...
How much lower should I offer on a house asking price?
Start low: When you are making an offer on a house, a good rule of thumb is to offer 5% to 10% lower than the asking price. Sellers often take this into account and market their property for more than they would accept.
The employer has also invested time in the process, so it's crucial you recognize this and thank them for considering you. Be sure to share specific reasons why you're excited about the job, such as the culture or the product. Be courteous and cautious when requesting additional compensation with the company.
Most people succeed or fail in a negotiation based on how well-prepared they are (or are not!). We adhere to the 80/20 rule – 80% of negotiation is preparation and 20% is the actual negotiation with the other party.
These golden rules: Never Sell; Build Trust; Come from a Position of Strength; and Know When to Walk Away should allow you as a seller to avoid negotiating as much as possible and win.
The Pyramid of Planning is a structured framework that transforms negotiation from improvisation into a disciplined process. Divided into strategy and tactics, it provides nine critical building blocks that ensure no element is overlooked—from power analysis and information gathering to motivation and decision-making.
