Initial offere price?

bumblebee20

Booked a viewing for a property in Harrow , London Zone 5 ( 2 bed 1 bath End terrace on £335k ). when i checked sold prices, seller bought this for 235k in 2009.
Recently (Sep 2013) a 3 bed house sold for 365k in same street.Personally i feel the house i am going to view worth 310-325k , zoopla value of the property is 295k ( I am not a property Guru , my figure is based on sold prices!).

Any thoughts on initial offer price? it is a fast moving area and i dont want to quote low , If i start with £300k , will they think i am taking the mick and remove me from bidding?

Thanks for reading.

yoshiyella

I am in the process of selling my property in a London borough and we had an open day - by the Monday we had had 9 offers, 8 of which were the asking price and one below. Of course we rejected that offer and only considered the 8 other potential buyers. If it is fast paced in the area you are buying my personal advice would be not to go significantly lower if at all! We are trying to buy a house and at every open day we go to there are at least 15 other viewers and the house is always bought over that weekend!

MrRee_2

It's madness in London - and now outside London ..... the asking price seems to be non-negotiable these days.

Trouble is, everyone knows that now is the time to jump aboard a soaring market .... and that drives the prices higher and higher.

dominoman

I don't think you have a chance in hell of getting it for 300k.

Ignore the zoopla valuations. They are not even close. The house we are buying is valued at 360k on Zoopla and we are paying almost double that.

If you want it I would start at 335k, not lower. Show you are serious or you won't get it I'm afraid.

Crazy market we're in - thanks to Osborne, Carney et al. Another big property boom to get the electorate happy. What could possibly go wrong!

bumblebee20

Thanks for your valuable points , will update the progress.