To offer lower or no?

[MotherOfRatios]

Viewed a 1 bed first floor property £200k Woolwich I like the area, however there was no pictures of the bathroom.

I viewed and the bathroom needs some
work it's just gone on the market I want to offer lower but my gut says they'll say no.

There's a whole in the bath and bath panel (the inside one is blurred so haven't uploaded)

WYD?

A new bath panel is cheap. Say £100. An entire shower cubicle less than £250. I doubt they will consider these good reasons to reduce, but why not offer lower anyway. The worst they can say is no surely.

I was thinking it was just easier to refit everything tbh as I don't want laminate in a bathroom if there wasn't cracks etc it's something I could cope with.

I was thinking £195k and if the estate agent says no then I'd offer £200k

I'm not saying I disagree with you about a refit, but if you use those reasons to negotiate an offer, if I were the seller, I'd just buy those things myself and refuse it. Iyswim?

Yeah I would say if the seller couldn't be arsed spending a couple of hundred quid on a new bath panel they're unlikely to take 5 grand off. I would accept it's sold as seen and proceed on that basis, but also you can always put an offer in- they can just say no.

The seller is an elderly woman moving in with her kids

To add that's why the flat overall is a bit dated I think
(sent to soon)

195 is pretty close to asking, tbh, and the kind of offer often made on properties without .issues (in terms.of percentages it's 2.5%). It's probably been priced to take the issues into account, so I wouldn't bother saying that is why you are offering x. Instead, I would just offer it (or maybe 190) and see what happens.

Offer the £195k and see what they say they'll likely say they were looking for more or to meet in the middle. U never know they may accept. I'd def be refitting out that bathroom too!

The last time a 1 bed in that building sold it sold for £205k

I'd go in at 190k.
I'm selling at the moment for 245k and everything is so slow,I've had a few viewers since I went on in November and an offer from someone who can't sell.
I'd love an offer and would drop to 237 ( actually going into the EA today to drop my price).
Good luck

I wouldn’t meet the asking price on that.

Needing minor updating is not a reason for a lower offer. But I'd never go in at full ask. Offer £190k, be prepared to stop at £195 (unless they are particularly stubborn. But estate agents always put prices slightly above what they think they'll get).

Yeah always go in under the asking price any way. Knocking off £5k for a shit bathroom seems reasonable.

I don't think the same is happening in London tbh the market is still moving quick

What state was the 205k flat? If pristine, I'd go in lower than 195. Maybe even 18-something.
If is a similar state, 195 is pretty close to asking and sounds reasonable.

You don't need to give a list of reasons why you're offering less. Just make your offer and they can take it or leave it.

The estate agent would have seen that bath panel the day they valued it so it's not much of a "reason" anyway.

I’d offer 190 then meet in the middle at 195. Totally reasonable figures to start negotiations.

Pristine

I spoke to the estate agent and she told me to offer £195k so that's what I've offered, estate agents can be so condescending with first-time buyers and I don't get it...

Ahh you're a FtB. You have a massive advantage here as you have no chain

Definitely offer under.

She declined EA told me offer £200k seller has counter offered at £205k I've accepted just waiting for confirmation

Eh? Counter offered over asking?

At this point, I'm not sure if the estate agents are trying to rip me off because she said to me she would confirm because I have accepted £205k with the Seller before six and I've just rung back and she said the girl who I'm working with is out but she thinks she had a conversation where the Seller has asked to sleep on it.

£210k would be my absolute max, but even that is overkill because the last 1bed that sold was in pristine conditions and sold for £205k.

ground rent and service charge would be roughly and she still confirming and will confirm on Monday but so far she said £300.

Please don't go any higher, or you will regret it. Make a 200k offer if you are really desperate, but stop there and be serious about it. The London market, particularly for flats in non prime areas, isn't as hot as they are telling you.

The estate agent is not your friend, so stop taking their advice. They are employed to make as much money as they can for the seller.

You are paying too much attention to what the EA says as if she is your friend or on your side but she isn't - she works for the seller not you!

Tbh I feel like you shouldn't offer anymore than 200k max. That is the asking price after all and it doesn't sound like anyone else is bidding for this flat. I don't know why you accepted 205k apart from maybe feeling pressurized. But I would tell the EA tomorrow that you have slept on it and 200k is your maximum offer.

If that gets rejected then walk away. The seller is likely to come back chasing you again in a few days. But even if they don't - something else will come up. Better to wait for one of those pristine ones to come up again than overpay on this one.