London transactions: what tends to surprise buyers and sellers?

I’ve seen plenty of attention given to the negotiated figure in London transactions, but much less clarity about what happens when finance, maintenance questions and the different professionals’ timetables collide. A buyer can agree a price quickly, for example, then discover that the funding schedule does not match the proposed completion date.

I’m starting a practical Q&A for those less visible issues. When posting, say where the property is and what type it is, since the answer may change by jurisdiction and transaction. I’ll be clear about the perspective behind my replies, and it would be useful to hear from people familiar with processes that differ from London.

Manchester, England, looking at a flat. If a seller wants a quick decision, how much weight would you give the asking price versus comparable completed sales? I’m concerned that waiting for financing and legal questions to become clearer could weaken the negotiation, but offering first and investigating later seems risky.

Before answering Luca, could you clarify your professional scope? Are you discussing transactions from the developer or seller side, or do you also advise buyers? That matters where interests may conflict. I’d also add document ownership to the list: if a report was commissioned by another party, buyers should establish whether they can actually rely on it rather than assuming it transfers with the property.

Luca, I wouldn’t let the seller’s preferred speed turn uncertainty into an inflated offer. Comparable sales can inform the price, but differences in condition, tenure and maintenance obligations may limit the comparison. Ask the lender and conveyancer what can realistically be completed within the requested timetable, list any unresolved costs, and make the offer reflect those gaps. Chen’s conflict point is important too: establish who each professional represents before treating their comments as advice to you.