Can You Buy a Home Below the Asking Price?

“Can I get it for less?” is still one of the most common questions we hear from buyers, especially in the current buyers’ market where nearly 40% of homes on the open market have been reduced.

During the Covid property boom, paying under the asking price was almost impossible. Demand was fierce, and the best homes were snapped up within days. Fast forward to now, and the picture is quite different. With interest rates remaining high, buyers are taking a more cautious approach – and with a high number of fatigued sellers who have been in the market for months and are increasingly open to doing deals, there’s more room for negotiation than we have seen in years.

There is still often a gap between what sellers hope to achieve and what buyers are willing to pay, but realistic pricing is key. Well presented, good quality homes continue to attract strong interest, particularly around Chichester, Midhurst, and Petworth. In these sought after locations, we are securing properties at or just below the guide price more often. In other cases, we’re achieving discounts of as much as 15%.

When making an offer, it’s worth remembering that the strongest bid isn’t always the highest. Sellers value certainty and flexibility, so if you are a cash buyer or you can be flexible on timings, that can make all the difference.

For those navigating the current market, a clear strategy, good advice, and local insight are invaluable in achieving the right result.

For more information about finding your next home in West Sussex, contact Jennie Hancock  jh@propertyacquisitions.co.uk