How much to offer? Eastbourne

[BluLagoon]

Probably going to offer on a house in a traditionally cheap part of Eastbourne. House is perfect for us, great condition new bathrooms but is by a busy road and has a tiny outside patio (no garden).

How much should I offer? Am a FTB so budget is obviously tight. The market is slow but agents say picking up (but they would say that!). It’s in at £325, was bought in 2006 for £190, if that means anything.
Help!

How longs it been on for? What is the position of the vendors? If it’s a while and they’re keen to sell then they may accept lower than if it’s recently listed or they don’t ’have’ to sell or need a certain price to move it will be different.

also what are you happy to pay for it? How much can you afford? Do you need to hold back money for doing work to it? Have you accounted for solicitors fees and moving costs in your budget?

Then you can make decisions about what too offer….

I would try offering 300k. But whether that has any chance of being accepted depends on factors like how long it has been on the market for, how motivated the vendors are to sell etc.

Obviously don’t offer 300k if you don’t think it’s worth that much. You should know better than us what the market is like in Eastbourne.

I guess it’s hard to say as it’s area that has a big increase over covid then a slight decrease, but hard to say what it’s worth now. Historically the street has been at the budget end and surroundings are a bit dingy. It’s been on for 3 months with no offers and one reduction all ready so will bid my top price of £300 and hope for the best!

Look on Rightmove for similar properties (e.g. 2-bed terrace if that's what it is) within half a mile of that postcode that are marked as SSTC (you can see these by ticking the box in the filters). That won't tell you what they have sold at - they probably sold at lower than listing - but it will give you a sense of what comparable properties are going for. It's a much better guide than any past prices for the property you are interested in.

Good Luck @BluLagoon!