There Is No Universal Rule

There is no standard percentage by which you should offer below the asking price. The right offer depends on the property, the market, the seller's circumstances, and how long the property has been on the market. In a hot market where properties are selling quickly and above asking price, offering 10% below asking price is likely to be rejected immediately. In a slow market where a property has been sitting unsold for months, the same offer might be accepted. Research the specific market before deciding on your opening position.

Research Comparable Sales

The most important step before making any offer is to research what comparable properties have actually sold for — not what they were asking, but what they achieved. HM Land Registry publishes sold prices, and Rightmove and Zoopla both show sold price data. Look for properties of similar size, condition, and location that have sold in the last six to twelve months. If the asking price is in line with comparable sales, you have less room to negotiate. If it is above comparable sales, you have a stronger basis for a lower offer.

Consider the Property's Condition

A property that requires significant work — a new roof, rewiring, a new kitchen, or structural repairs — is worth less than a comparable property in good condition. If you can quantify the cost of the work required, you can use this as the basis for a reduction from the asking price. Get quotes from tradespeople before making your offer if possible, so that your reduction is evidence-based rather than speculative.

How Long Has It Been on the Market?

A property that has been on the market for a long time without selling is a signal that the asking price may be too high, or that there is something about the property that buyers are finding off-putting. In either case, you have more negotiating room than with a property that has just come to market. Check the listing history on Rightmove — if the property has been reduced once already, the seller may be more motivated to accept a lower offer.

Typical Ranges

As a rough guide, in a normal market:

• 5% below asking price is a reasonable starting point for a well-priced property
• 10% below asking price is appropriate where the property has been on the market for some time or requires significant work
• More than 10% below asking price is likely to be rejected unless the property is significantly overpriced or has serious issues

How to Present a Below-Asking-Price Offer

A below-asking-price offer is more likely to be taken seriously if it is accompanied by a clear explanation of your reasoning. Rather than simply stating a number, explain why you are offering that amount — comparable sales, the condition of the property, the work required, or the current market conditions. A well-reasoned offer is harder to dismiss than one that simply states a number, and it opens a dialogue rather than forcing a binary accept/reject decision.

Avoid Insulting the Seller

An offer that is significantly below market value — without a clear justification — risks insulting the seller and damaging the relationship. Sellers who feel their property has been undervalued may refuse to negotiate at all, even if a reasonable offer is subsequently made. If you believe the property is significantly overpriced, it is better to explain your reasoning calmly and respectfully than to make an aggressive low offer without context.

Leave Room to Negotiate

Your initial offer should not be your maximum. Leave yourself room to increase if the seller comes back with a counter offer. If you open at your maximum, you have nowhere to go and may lose the property. A good negotiation typically involves at least one round of counter offers before a price is agreed.