Offering £285k on a flat listed 'from £300k'

[wouldbeFTB]

Do I have no hope in hell?

Apparently, the seller is keen for a quick sale, and wants to buy another property. The flat is in London (zone 3). I'm going to be the first viewer this weekend.

However, EA says it's listed below value to drum up more interest.

Is £285k beyond cheeky or a decent offer?

I sold my one bed in zone 3 for £310K recently...

I agree with the poster above. Zone 3 includes Wimbledon and Kew, but also Plaistow and Kidbrooke. "Zone 3" in itself tells you nothing about local house values.

@maisouimaisoui1

My dad said it's a tactic the EA use, I won't be offering anymore than the asking price as it's been on the market since may. If they accept they will effectively be taking a loss on it, as they bought it for £325k

''@TheYearOfSmallThings · Today 11:59

I sold my one bed in zone 3 for £310K recently...

I agree with the poster above. Zone 3 includes Wimbledon and Kew, but also Plaistow and Kidbrooke. "Zone 3" in itself tells you nothing about local house values.''

It was in one of these so called 'regeneration' hotspot in East London, ie still rough around the edges...

What is the price history? (if it was a lot cheaper when rates were zero it won`t sell for silly mark ups now) Are you using PropertyLog to follow other sellers and their asking price changes?

@CrashyTime I think it's new to the market. The owner bought it 10 years ago for £208k. I don't rate my chances but nothing ventured, nothing gained.

Ten years ago interest rates were at 0.25% or something? Now they are 5.25%, anyone who tells you that doesn`t matter is lying TBH.

We offered 260k on our house when it was OIEO 300, eventually agreed 270k. It is worth a try but it really depends who else might offer/how desperate the seller is (we later realised our seller was v desperate and we were the only offer).

I bought my London flat 10 years ago and if I sold it now I doubt I would get a 50% uplift to the price I paid. And I have done some work - knocked kitchen through to living room and had a new kitchen.

I would like to get 42% more than my purchase price if selling now but suspect 36% is more realistic which would put the flat you are considering at £282k.