To lowball homeseller?

[suffolkgeorgiantownhouse]

https://www.rightmove.co.uk/properties/170771690#/?channel=RESBUY

Hear me out.

This is truthfully a 1 bed flat, by the way, but is advertised as 2 because technically the kitchen could double up as a sitting room, but a very small one.

Seller listed flat 1 year ago in Sept 2022. Home has had zero offers in that time and a 25k reduction. Originally listed for 375 when the downstairs flat, which has 3 beds, sold for 378k recently.

The flat has no central heating.

The seller paid 300k for the flat in 2022 when there was an inflated huge post-covid rise in home values.

Am I being unreasonable to offer 275? I think she massively overpaid. It's always devastating to overpay on a property and lose it upon selling, I really feel for her. I unfortunately lost 15k selling my first home so I know how this feels.

Average 1 bed flat in Bury St Edmunds is about 160k and the avg 2 bed is 180k.

Additional question: is a flat like this suitable to raise a child in down the line? It's 95sqm. No I don't care there's no garden. I don't want to spend time maintaining something I will use for maybe 20 days out the year.

EDIT: I know this seems a strange purchase but I am a strange person and so it does fit me, my needs and tickles me in the right places. I have very specific period feature desires that this ticks all the boxes of. But I'm not prepared to overpay just because the owner did.

Are you the owner? You've made the same comment 3 times!

You will spend a fortune on all electric heating especially with an old, listed building and children. Look how much energy has gone up to.

It's annoying hauling kids, pram, shopping, luggage from holidays, furniture etc up stairs.
Your neighbours probs will not have kids and all they'll do is moan about how much noise you and the baby will make. If its just you then fine
Listed so little changes you can do.
Share of the freehold is good but you'll have to all club together for insurance and maintenance etc.
I just cba with flats. Hell is other people and you're not coming across as very interested in listening to other people, so you wouldn't really make a good neighbour lol

Definitely lowball offer though it's a business transaction and sounds like you can justify it with other local sales. So it won't come from nowhere

That's massively over priced for a one bed flat in bury. I don't know why you would plan to have a child in a one bed flat

It’s a beautiful flat but the room sizing is a little weird (Kitchen is big, but too small to count as an open plan kitchen and sitting room. Bathrooms is gorgeous but takes too much space from what is a small property). I’d definitely call it a one bed. Not family friendly in my opinion due to the lack of a second bedroom (unless you lose a sitting room)

No harm in a low ball offer, but did you see it’s a shared freehold? I can imagine that’s what’s putting people off. And it’s listed.

I think YANBU to make an offer but they would NBU to refuse.

It's more suited to a single person or a couple than a family imo.

You seem quite 'edgy' in your posts.You can work out the pros and cons of having a child in a flat.

Offer what you like. The seller may not be able to take a 30% drop.
If they could they would probably list it for that.

You could buy this 2 bedroom house in bury for 290

https://www.rightmove.co.uk/properties/174741164?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

You say you are a strange person.

What do you mean?

How can you have a child in a 1-bed flat? Are you single? Where would the child sleep once they are older?

How can you think you'd only use a garden for 20 days a year?

Also have you considered schools? Inner city schools usually are not very good.
Parking.. travel to school. Babies turn into kids very quickly and where would their bedroom be?
And I know you don't want to maintain a garden but it's basically a whole other room for children. And with a summer this stonking good just gone you'll get far more than 20 days out of it. Consider also drying washing on the line, small paddling pool, kid toys etc..
In this market I would be going for a house I could live in for 10yr as there's little mobility at the moment.

Goodness you sound lovely.
Are you always so ratty?

My son and his girlfriend purchased a top floor flat, victorian house conversion 5 years ago. They fell in love with the period features and quirky style. Turns out, this beautiful flat is an absolute money pit. Things constantly need changing and updating. They now have a 2 year old and the flat looks like a nursery and by their own omission, very cluttered. No space to swing a cat. My granddaughter needs outside space to play. They are now selling up to buy a grown up property that meets their needs.
I think you need to look at the bigger picture, the property is overpriced and no garden, whether you like a garden or not, your daughter needs outside space to play. If you couldn't afford a property with a garden, then thats a different scenario all together, but you can. I think long-term, you may regret buying, as it does not meet your daughters needs.

I would consider if I am stopping at one child and what the long term bedroom situation would be if I was or wasnt stopping at one. If you dont develop issues wirh back during/post delivery the stairs are do-able but its still very hard - very hard.

Is there space for a.pram, trikes, bikes.

Its a.lovely place. what a location.

would there be much noise - thinking about baby routine or child with sound sensory support needs.

Does it give you space to WFH in the future if needed.

Can you figure out likely heating costs - as well as drying all the washing/drying that can come with a 1-3 year old.

Although you asked about lowballing the seller....

Seller might not have much of a mortgage - i would only worry about what I am willing/able to pay for it and not their perceived/unknown loss.

All the best with house purchase and baby.

Looks like top floor flat? Nightmare with a child, a buggy and groceries and no garden, been there - had twins in a gardenless flat, I use to dream of a garden for them. Don't do it if you want a child.

As others mentioned I'd be very wary of buying something with such obvious cracks. If they were purely cosmetic the seller would have dealt with them before putting the flat on the market.

I share the concerns about heating, but have you considered cooling too? Will it be very hot in a heatwave? The ceiling window in the bathroom could generate a LOT of heat.

The window in the kitchen is tiny, will you always have to put the lights on to cook? How effective is the extractor?

More importantly, where do you plan on putting the baby? And would you ever have more than one? Could twins be a possibility?

If also be concerned about sharing the freehold with 2 others. You have no control over who these people would be.

I would low ball them if i were going to buy

but no central heating - nope
I would want to find out why - it might be that you can’t put in central heating at all or it can’t get it

and while that flat looks gorgeous no central heating would be a big no

if it’s got electric heating it’s gonna be hugely expensive to heat
all that open space will never get warm and even showering will be an expensive luxury

and if it’s listed would be doing a full survey I wouldn’t want to get stuck with a huge bill

and personally a one bed flat with a child nah

You can offer what you like and the seller has a choice whether to accept or not. I'm not sure how you know it's had no offers since it's been on the market unless the EA has shared this information? If they have, then I'm sure you could have the conversation about how much you'd like to offer and they'd give you an idea how likely the seller is to accept.

The possibility of a fire in the property below would be a deal breaker for me, especially with a child……I wouldn’t live there if someone paid the mortgage for me!

It’s not a buyers issue if the seller ends up with negative equity.

Wow. Tell us you have rose tinted spectacles. Carrying a wriggly baby, your shopping, nappy bag and, maybe, a buggy upstairs is difficult at all times unless you’re an octopus. Add in sleep deprivation and so you may be grumpy and frustrated yourself.

It's a location thing- I find it strange a 2 bed flat would only be £180 because on Rightmove they start at about £245.
With that in mind for a flat in that position £245 is VERY low. The seller paid £300 3 years ago, clearly they overpaid, but offering £245 is not much short of an insult, offer,but the seller will almost certainly say no.

Yep- if anyone should feel a twinge of guilt it's the folks who took 300k from her in the first place. At this point, leaving her tied to an overpriced flat unable to move isn't helping.

Just those cracks alone, it would be a no from me. Remedial works may have to involve the other 2 leaseholders, who may or may not want to play ball. If it needs underpinning etc, then depending on the terms of the lease it may be a joint expense, or just down to the ground floor leaseholders alone. This could be a whole world of stress.

I do not care if you make a very low offer - that is your business BUT this property is not suited to baby/child - NO central heating, no lift and no garden or it seems park nearby.

Seems a lot to me. What are the terms of the lease and service charge.

You were paying rent and the council tax and utility bills while the sale went through. So his loss was less than £60k. A landlord always offers to tenants first if selling - saves on EA commission as well.