FTB: What would you offer for this flat?

MysteryMe

https://forums.moneysavingexpert.com/discussion/comment/82127558#Comment_82127558

Why are you assuming the other party is a FTB, they could be someone whose relationship has broken down and existing property needs to sell before they can go their sperate ways.

whaleroad

https://forums.moneysavingexpert.com/discussion/comment/82127610#Comment_82127610

The flat I'm interested in is two-bed. The other person in London is trying to sell a one-bed.

MysteryMe

It's easy for us to spend your money for you and obviously none of us know the housing market in your area.

£250k does seem low. Are there any sales of similar flats nearby that can give you a current price trend?

If you genuinely think it's the one for you then maybe an opening of around £260-£265k and hopefully get a counter offer. If it's rejected flat out then try £270k

whaleroad

https://forums.moneysavingexpert.com/discussion/comment/82127639#Comment_82127639

I'm moving to a different area so I don't know either. Apart from the flat in the same block selling for £280k in November, I haven't found reliable comparisons. An objectively nicer leasehold flat nearby (better finish kitchen, private outdoor space and en suite bathroom off main bed) sold for £275k in July. I don't know how much freehold adds to the price.

MysteryMe

I think I would rather be more in control by having a share of the freehold than being dictated to by management companies but have no personal experience.

waseem432000

we recently had an offer accepted on a flat as FTB. It was priced range of 300 to 350 and was a rented property so empty now.

Me and my wife discussed that we could go up to 325 max as we quite like the location and other features but mostly the location (we rent in next road for good 7 years so have a really good idea that we don’t want to move out of that area).

Had the viewing on Saturday, offered 310 on that flat on Monday. EA came back next day and said seller is looking for more and also told me that they have viewings booked all week so can only get back to me on Friday with the answer. We bumped our offer to 315 (wife wanted to go 320) but I told EA this was our full and final. EA emailed on Friday that seller is happy to accept our offer.

now I may have got that for 310(will never know) but what I do know for sure is that we would have been devastated if our offer wasn’t accepted and the flat was sold for say 320.

whaleroad

https://forums.moneysavingexpert.com/discussion/comment/82127804#Comment_82127804

Firstly, congratulations. Second, thank you; that's really useful insight. Even though outcomes will vary in different areas, I was more interested in the principle of offers. This helps. I'm more confident about offering £265k now, though I expect to pay more.

whaleroad

https://forums.moneysavingexpert.com/discussion/comment/82127788#Comment_82127788

Freehold/share of freehold is definitely an advantage most of the time. The question is how much monetary value it adds to the property, if any, so I can compare with nearby recent sale prices.

silvercar

You really need to find out the condition of the property that sold at a higher price. Also what floor was it on? Ground floor flats round here struggle to sell as people seem to think they are more vulnerable to break ins and suffer more noise and inconvenience.

poseidon1

OP in my view and assuming this flat is in England and not Scotland you are in a very strong position as a someone who is serious about purchasing a flat. As you will see from the article below the English flat market is in the doldrums.

https://www.theguardian.com/money/2026/aug/08/flats-in-england-not-selling-slashed-prices-buyer

If you are serious about progressing matters for the flat in question, make your opening offer at whatever level you are comfortable and see the response. Hopefully your offer would either start a negotiation, or be accepted. Either way as a serious buyer in a very depressed market for English flats you have leverage so why not use it .