FTB: What would you offer for this flat?

whaleroad

https://forums.moneysavingexpert.com/discussion/comment/82128238#Comment_82128238

I know politics is banned from the chat so I'll keep it light, but this does seem like the inevitable consequence of decades of ignoring the elephant in the room.

What the article doesn't address is that first-time buyers, particularly in London, can't save a deposit because the rents they've been paying their BTL landlords are so high. The BTL landlords now flooding the sales market with their one-bed flats because of the Renters' Rights Act have priced out their own customers. But I'll try not to cry for them.

ExEstateAgent

https://forums.moneysavingexpert.com/discussion/comment/82128285#Comment_82128285

Have you offered? What amount and what was the response? Curious…

Ash_Pole

https://forums.moneysavingexpert.com/discussion/comment/82133239#Comment_82133239

Me too, any update OP ❓

HouseHuntingAmy

The bit about not wanting to lose it is exactly the thing to watch - the flat you cannot bear to lose is the one you overpay for. Decide your real ceiling before you offer and write it down. On the number: it has been on since January, already reduced once, and the £280k comp is nearly a year old, so the listing history has tested the price for you - no need to defend £285k. I would open at £265-270k and have the agent present you properly: chain-free, nothing to sell, ready to move at the seller's pace. To someone who has already moved out, that certainty is worth real money, but only if the agent sells you as well as the number. £250k would probably get a grumpy counter rather than a yes, but a low counter is still a begining.