First time buyer: one bedroom in London

ryanm8655

Crashy_Time said:

Miranda25 said:

numbercruncher8 said:

Think that place is pretty good for the money.
Wouldn't be surprised if there was some competition so it's probably right to get it finalised soon.
There have been some fair old reductions in the area - that flat was £410,000 last month and was reduced twice, so perhaps a motivated seller? Other places on the market at £400k that have been on for some time, might be candidates for coming down to this level as well.

Sorry, where can I see the information that flat was £410k last month? Thanks.

https://www.propertylog.net/

Have just read the entire thread from start to finish over a few readings...I don't know who has more time on their hands...me or you

blue_max_3

That place was tiny! 33sqm. I'm sure you'll get fixed up soon.

Crashy_Time

ryanm8655 said:

Crashy_Time said:

Miranda25 said:

numbercruncher8 said:

Think that place is pretty good for the money.
Wouldn't be surprised if there was some competition so it's probably right to get it finalised soon.
There have been some fair old reductions in the area - that flat was £410,000 last month and was reduced twice, so perhaps a motivated seller? Other places on the market at £400k that have been on for some time, might be candidates for coming down to this level as well.

Sorry, where can I see the information that flat was £410k last month? Thanks.

https://www.propertylog.net/

Have just read the entire thread from start to finish over a few readings...I don't know who has more time on their hands...me or you

Try messing about with PropertyLog, that should cheer you up.

redefinr

It's a pretty tough game to play with EA in generals. I'm looking for a negotiator which could play on my side, I've seen a bunch of companies offering this service and I'm wondering if it's worth it?
I got really annoyed with the last property, after 2 days the listing it's still online without even the 'Under Offer'
https://www.rightmove.co.uk/property-for-sale/property-78971227.html
even though the EA told me the vendor accepted an offer... 
Don't you all agree £347K was a fair offer for the property?

eidand

redefinr said:

It's a pretty tough game to play with EA in generals. I'm looking for a negotiator which could play on my side, I've seen a bunch of companies offering this service and I'm wondering if it's worth it?
I got really annoyed with the last property, after 2 days the listing it's still online without even the 'Under Offer'
https://www.rightmove.co.uk/property-for-sale/property-78971227.html
even though the EA told me the vendor accepted an offer... 
Don't you all agree £347K was a fair offer for the property?

you mean after 2 months

so, you could go again and offer 340k maybe? Why not.
What we think is irrelevant, what the seller and EA think matters more. Now that the property has been on the market for a while, they know how many viewings / offers they had in that time and might be way more accommodating. 

numbercruncher8

Property market doesn't really care if your offer is fair or not - if someone bids more than you they get it in most cases.

TBH like I said the property had come down from £410k in quite a quick time. I would expect the seller is expecting the asking price and perhaps the listing is still kept open in case someone wants to beat it.

I had a look and it is rather slim pickings. If we can agree that for a 1-bed this is the best value in the area at present then you'd have to assume that lots of other people think so.

I don't really see what a property negotiator would have done for you in this instance. If you are outbid, there is not much you can do apart from leaving your offer in there in case the other one breaks down.

redefinr

I can't offer less! I initially offered 342, the vendor declined and EA told me to make an offer in the region of asking price. I made 347 - apparently the vendor was going to decide 2 days ago. EA came back to me telling me the vendor preferred another offer based on the fact the 2nd buyer 'had a house to sell' instead of getting a mortgage. 
So I would have thought the flat is sold but the listing it's still there.

eidand

redefinr said:

I can't offer less! I initially offered 342, the vendor declined and EA told me to make an offer in the region of asking price. I made 347 - apparently the vendor was going to decide 2 days ago. EA came back to me telling me the vendor preferred another offer based on the fact the 2nd buyer 'had a house to sell' instead of getting a mortgage. 
So I would have thought the flat is sold but the listing it's still there.

that can indeed happen, I'd say just keep an eye on the listing, and if in 2 weeks it's still there maybe enquire again. I wouldn't worry about being too pushy, at the end of the day both seller and EA want to sell.

Having a house to sell means the other buyer is not proceedable so you still have a chance.

jimbog

redefinr said:

EA came back to me telling me the vendor preferred another offer based on the fact the 2nd buyer 'had a house to sell' instead of getting a mortgage. 

Sounds bizarre that someone who had something to sell was seen as more attractive. Do you have a Mortgage in Principle already prepared? 
I would have offered the asking price. The difference between your offered and what they were looking for is only around 0.8% 

Crashy_Time

redefinr said:

Nah I wouldn't consider Reading. Kew Gardens has some nice property for good price...but still.
I want something in Central. As for now, it will serve me amazingly and when I'm tired of it - easy rent.
The EA told me the one in Camden has an offer of £337.500K - still too high in my opinion.
I just got off to see this property and it thick all the boxes:
https://www.rightmove.co.uk/property-for-sale/property-78971227.html
Beautifully located, the place is in good nick, first floor and low service charge (1200 pa) and ground rent (50pa). 
I'm just gathering my thoughts together but I'm pretty sure I'm sending an offer tomorrow. God, Dexter's pretty good at putting pressure

...maybe not if some posters on here are to be believed, everyone is going to move to the countryside they say? HMRC will enjoy easy rents though as the government will be tax hungry after this mess.