Help With Offer

[Bartliz80]

If a house is advertised at guide price £315,000 but needs rewired, new kitchen, new bathroom, rooms all redecorated and carpeted and new doors (hasn't been decorated in at least 20 years) how much would you offer? Same house 2 doors down sold 4 years ago for £285,000 but was immaculate and needed nothing doing

What do you think the one that is immaculate is worth now?

£300,000

Depends how bad the kitchen, bathroom etc are
Depends how long it’s been up for sale

Personally I’d be asking the EA why it’s valued at £315,000 if an immaculate one nearby of the same size is worth£300,000.
Also note the £300 one may have sold at a low price because of all sorts of reasons you may not be aware of

So ask the EA

1. Look what £315K buys in the area.
2. Look what price owners are asking for a similar house in the area (size, layout, state of repair)
3. Consider what you might have to pay if you don't buy this house. Also consider what you can afford.
4. keep in mind that a seller might consider everything in your list except the rewiring to be optional.
5. Consider if you're in a position to bargain (are you chain free? do you have financing agreed? can you exchange/complete quickly?) Is the seller under any pressure to sell quickly? Is another potential buyer likely to come along soon who might like the house more than you?
6. bargain cleverly in light of 1-5
7. Keep in mind that even if you are able to negotiate a bargain, and ask for it to be taken off the market, you could be 'gazumped' (where someone offers higher price) before you exchange. It's not really yours until you exchange contracts. So a fair market price will be a more secure deal.

You can't compare to a house sale 4 years ago.

Compare the house to similar properties in the area now. There's no way of us knowing if those things are already factored into the price or not.
Also how long has it been on the market? Has it been reduced? How in demand is the area or street?

For context, our house was asking £500 and needed all that doing too. Next door (immaculate and exact mirror of ours) sold for £600 the same year. So it was clearly built into the asking price

We settled on 470 but the house had also been on the market for 6 months, reduced a lot in that time, little interest, sellers were motivated.

Go on houseprices.io to find the estimated value today of the house that previously sold. Deduct the predicted (double it!) cost of the remediations. That will give you a guide.

But also use Area360's area profile to find the 10 year trend of property types in that area and make sure you are "in the range".