Advice on Offer

jane101q

I've been looking to move into the Zone 3/4 part of South East London and found a property which I think will be suitable currently on for £375k. It's in a nice residential area not too far from the station but far enough from the Downham area which I've been advised to steer clear from. Recent selling prices have been around the £340-365k. Here's the house - https://www.kfh.co.uk/south-east-london-and-north-kent/grove-park/se12/houses-for-sale/2225768/

I've noticed that there was a property within the development going for £75k less with a different agent which has now sold which has left me a little confused on what to offer. Online valuations are valuing the house at £370,000. Offering £300k is 20% of the list price and the Estate Agents may not take me seriously with other properties. Any advice on what to do? Has anyone lived in Lee/Grove Park before - is it a good place to live?

cattie

Like all areas, Lee & Grove Park will have good parts & not so good parts. It's mainly the ex council estates that are not so desireable, just like the Dowhham estate.

For a 2 double bedroom house with downstairs wc. it's priced very fair I think. I don't live a million miles away & decently located 2 bed flats with double bedrooms are currently in the region of £400k upwards in my area, new builds much more (around the £500k+ mark).

Is this an ex local authority/HA house I wonder, due to the reasonable price?

Do you know how long it's been on the market as if it's not long, vendor might not consider offers. If it's been on a few weeks then I'd actually go in than a bit less than £375k as you can always increase your offer. I'd offer 10% less- £337,500k & see how that is received or even a little lower if you feel braver. Not many folk house hunt this time of year, so you could be lucky.

Be sure to come back & let us know how you get on.

Skiddaw1

From the pics it has plenty of potential doesn't it? Like the front- pretty and cottagey. I don't know anything about the area but I can see why you're taken by the house.

Smodlet

I have nothing useful to add but it looks really nice for London.

I wish you the best of luck, OP.

diggingdude

I don't know area so cant comment on price. Seems nicer than many we see on here for that price in London

Socajam

OP if you have the time, or make the time to visit and have a look around the area

Cakeguts

Is it a flood risk being so close to the river?

Smodlet

Cakeguts wrote: »

Is it a flood risk being so close to the river?

... Yep...

cattie

Cakeguts wrote: »

Is it a flood risk being so close to the river?

No, we have the Thames Barrier in this part of the world, so it isn't considered a high risk flood area.

AdrianC

RM link:
https://www.rightmove.co.uk/property-for-sale/property-86586140.html

This is the cheaper one:
https://www.rightmove.co.uk/property-for-sale/property-71068669.html
Listed in April, "Guide price £300-320k". Reduced from £350k in mid-October, went STC almost exactly a month later. No actual sale price available yet.

jane101q

cattie wrote: »

Like all areas, Lee & Grove Park will have good parts & not so good parts. It's mainly the ex council estates that are not so desireable, just like the Dowhham estate.

For a 2 double bedroom house with downstairs wc. it's priced very fair I think. I don't live a million miles away & decently located 2 bed flats with double bedrooms are currently in the region of £400k upwards in my area, new builds much more (around the £500k+ mark).

Is this an ex local authority/HA house I wonder, due to the reasonable price?

Do you know how long it's been on the market as if it's not long, vendor might not consider offers. If it's been on a few weeks then I'd actually go in than a bit less than £375k as you can always increase your offer. I'd offer 10% less- £337,500k & see how that is received or even a little lower if you feel braver. Not many folk house hunt this time of year, so you could be lucky.

Be sure to come back & let us know how you get on.

Thanks Cattie, I've been told it's a private development. I thought so too until I saw one was listed for £75k less but to fair that property needs more work than this one.

It's just been over two weeks now, I think I'll go with the offer you have suggested - the worst they can say is no. It is December now and I know the market will be really slow, many of the houses that came on at the same time are still available. I'll let you know how I get on with the Agents.