How much should we offer

raindudu

We've been looking for a house for the last 3 months and finally found one we like.

On rightmove, it sys Offers in Excess of £480,000. How much should we offer? Should we offer higher or lower? The house needs total refurbishment. We think the house is only worth around 465k. However location is spot on.

Thank you.

mrginge

With the limited information you have provided i would start at 450k

raindudu

mrginge wrote: »

With the limited information you have provided i would start at 450k

Thank you for your quick response.

There were 30 viewings on Sat.:(:(
The area is very sought after and currently short of supply.

Below is the link.
http://www.rightmove.co.uk/property-for-sale/property-42517022.html

fishpond

£505000 -- To start with.

raindudu

fishpond wrote: »

£505000 -- To start with.

Wow! This is higher than I expected.

raindudu

To give more details - Zoopla estimates it around 450k. Number 6 was sold 485k in 2011 and is in a good condition.

DRP

fishpond wrote: »

£505000 -- To start with.

Surely £505001.63?


OP, you need to research local trends (sold prices, how long property hangs around etc)

No one here knows your local market although by the sounds of it the number of viewings means this place is very popular.

raindudu wrote: »

To give more details - Zoopla estimates it around 450k. Number 6 was sold 485k in 2011 and is in a good condition.

how does no6 compare?

raindudu

DRP wrote: »

Surely £505001.63?


OP, you need to research local trends (sold prices, how long property hangs around etc)

No one here knows your local market although by the sounds of it the number of viewings means this place is very popular.




how does no6 compare?

Thanks for your reply. I know it's very difficult for others to give an advice here. The area is very popular - great school, transport link, etc.

No6 is much nicer than this one. Basically for this one, you can't move in without doing the work.

not123

Hi,
The property is within the catchment area of very good local schools. If you are after safe area, good education for your kids, and good transport links to London - go for higher offer...

raindudu

not123 wrote: »

Hi,
The property is within the catchment area of very good local schools. If you are after safe area, good education for your kids, and good transport links to London - go for higher offer...

Thank you for your reply... I am so confused of how much we should put an offer on. 485k?

rob404uk

Zoopla can have big time lags that might not be a true reflection of the current market. I live in a terraced street in east London. Highest sold price is around the 340000 according to Zoopla. 4 houses on their key between 375 - 450 on the road all sold within a week. London is crazy at the mo and with 30 viewings I would be surprised if you got this below half a million