To offer 7% less than asking

[Heps9]

Saw a nice property and am interested in making an offer.

The property is listed for £660k & I’d like to offer £615k.

I feel the listing price reflects the excellent condition of the property, rather than anything else; it’s been refurbished to a brilliant standard.

The property was purchased for £595k in 2021, in its existing condition, by the current owners. Judging by the pictures on Rightmove, the current owners haven’t made any changes to the house, so it’s just housing inflation that is driving the price.

I know that after buying in 2021 the owners have listed it for sale at least twice for around £655k in 2021 and £650k in 2022… which makes me think they won’t be interested in selling at a lowish price but I think the house is over priced for what it is.

Sorry, forget to ask the question: would you be annoyed if someone offered 7% less than asking price?

I wouldn't be annoyed, no and nor would any sensible seller. Having said that, someone people do seem to take lower than AP offers as some kind of personal sleight judging by some of the responses on here.

In this situation, it sounds as if they bought just before peak market pricing in 2022 and regret their decision for whatever reason. They seem to be just trying their luck with the pricing if it didn't sell in 2022 (market peak was around Q2/3 2022) for a lower amount than it is listed for now. They are trying their luck again now with an even high asking price. All you can do is offer 615k if that is what you think it is worth and then walk away if they reject. I would caution against being tempted to increase your offer as you would be over paying and would probably regret this.