Is this a cheeky offer - london

[ClaphamSeller]

getting pressured to put an offer in by agent but I dont know if this is too cheeky at 575K because asking price is 650 which means 10% off. Its in a busy road opposite train line so I will struggle to sell it in a few years time

https://www.rightmove.co.uk/properties/87939948#/?channel=RES_BUY

Do I wait for it to be reduced or go and put in offer of 575 - we cant afford more sadly - Market is dead and we are selling with no viewings or offers so also part of a chain

At the beginning of June, you thought you’d struggle to sell it in a few years because of the negative aspects of it. Have those negatives changed because the price has reduced? I think you’re being swayed by the further reduction.
N
The market started dropping at least two years ago. It’s still dropping.

Yes the second is 'just' a flat, but agree with a previous poster that it is MUCH nicer.
Before putting in your offer for the first place, consider going back to the area late one evening, and think about whether that is really where you want to bring up your kids.

The area I live in has all but been destroyed by BTL they do not maintain the houses, many of them are unoffical HMOs I live next door to one and it is all but falling to bits with around 10 people coming and going in a two up two down terrace with a back yard full of rubbish. It's a selective licensing area but they are all but toothless to do anything. I would love it if the bad ones would sell up and cut their losses and people who were going to look after the houses bought them.

Come on, it"s London, it"s only half a million pounds.....

Last sold in 2006 for about half the price, caution is advised here, the price is still bubbly in terms of where borrowing rates could go.

https://www.propertyinvestmentproject.co.uk/property-statistics/uk-interest-rate-history-graph/

I have no idea why you think anyone would accept an offer, cheeky or not, when you've not yet sold your house.

Whilst it is not Luton or Croydon, I am sure you can find somewhere better.

This seller is obviously desperate and not very clued in, or maybe they thought they would just take the piss to start off the "bidding"? The flat last sold for around 250k when interest rates were about the same, but London would have been a LOT more desirable back then? Wages for the type of people who might buy this will have increased maybe, but so also will job insecurity, so still overpriced IMO, 400k would be more realistic, still a piss take, but it is London Darling?

I live round the corner. It’s just a pretty horrible road between a load of commercial premises, two train lines and some big polluted roads.

I’m actually fairly desperately looking for a three bed house in this area at around this price at the moment, willing to compromise on a lot of things and I wouldn't consider that road.

Well there is always that, how many offers have you had OP?

OP this flat is much nicer - They would probably take 625 or even lower - Very near and much better value

www.rightmove.co.uk/properties/90910647#/?channel=RES_BUY

Have been following this thread.
I don't know the area but from what other posters have said and looking at the maps I would avoid this house. Doesn't look like a good buy even if its cheap.
What's your top budget OP? There are some nicer flats with gardens for 600-650K nearby. The one you linked to is nice but very small.

Thanks for coming back to update us and give confidence to others pondering lower offers. If they need to sell then looks like you’re the best option for them. Ignore anyone who is picky about the negatives. They attend trying to find somewhere in that area.
There’s always a compromise and I agree with yours being no freeholds or smaller flats. Nobody can see the future but if it works for you then go for it.
I would have had similar comments if I’d posted on here about the house I bought. The location, the style, the layout, the garden. But it was the best and ONLY option for me and it’s been perfect FOR ME. Mumsnet is SO picky about housing and can be delusional about what options people have in London.

Walked past this house last week and it’s marked as sold on the sign. As I walked past I had to dodge a million wheely bins and black bags of rubbish on the narrow bit of pavement. Wonder if OP went for it.

Not seeing the value there TBH, think this will struggle as well.