A price that you would be happy to pay for a property
When you have decided on a price that you would be happy to pay for a property, make your first offer lower than that; you can always increase, but it is very difficult to decrease your offer.
Be aware of exactly what is included in the asking price. If there is some machinery or stock on the holding which is not included this could be used to overcome a deadlock. If you have made your final offer and they have made their final concession, rather than lose the property it may be possible to agree to their price if certain items of stock are also included in the sale. It may not have the value but it saves face on both sides and allows the deal to proceed.
Before you make the offer think of the suitability again. It may seem perfect at the time, but consider the changing seasons. Also consider the passing of years; if you are young, would it be suitable for (more) children? If you are not so young, would it be convenient for shopping without transport?
Think again of your intended methods of earning a living; if they should fail what would you fall back on? Would it still be suitable? Location can play a large part here; road frontage may seem undesirable, but if you wish to do farm gate sales, pick your own, or bed and breakfast, a mile-long track could deter your customers. Buying a smallholding is different from buying a house; you want not only a place to live, but also a place to work. They must both be right for the whole thing to succeed. When you feel it is right make the offer and get ready.
When you make your initial offer the estate agent will probably want to know your financial position, and assuming you have a property to sell, how far advanced your sale is. You want to be able to say my property is under offer and we expect to complete in x weeks’ and if you can say this truthfully so much the better.
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