How do I negotiate a house price?

[IIama]

Hello!

I am looking to buy my first property. It is listed at £130,000. Has been on the market since February and needs a bit of work doing but nothing I can’t do myself.

I would like to get it for £115,000 owing to the work that needs doing and my suspicion that property is going to fall in value in the next couple of years.

Am I right in thinking the fact it’s been on the market for such a long time gives me more leverage? Or does that just mean the person is in no hurry to sell?

Thanks in advance for any tips and advice!

Just ring the agent and ask if there's space for negotiation and what do they reckon sellers would accept. Re time on market, if they haven't reduced in 6 months, I would guess that they aren't in a hurry to move and don't really want/need to accept less than asking price.

Offer £115K. Whats the worst that can happen, they say no.

At least that is the honest thing to do. What you have said about it being on the market, the market slowing down etc is all true. You never know unless you ask.

Be prepared to be told no, but also be prepared to leave the offer on the table for a few weeks.