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Reporting this answer: If you're not sure about what type of offer to make for a property, it's always good to go through a step-by-step valuation process (just like the professionals!). In short (and explained in much more detail in the article linked to below) … - Find other similar properties that have sold recently in the area. Was their selling price similar to the property you are interested in? - Look at other similar properties that are currently for sale nearby. Again, how do their asking prices match up the the one you want? - See what the property has sold for historically and then use the Land Registry's house price tool to calculate what the property should be worth today (it takes into account how much property in the surrounding area has increased or decreased by each year) Zoopla has plenty of tools that can help too. If you jump into the 'sold prices' section of this website and plug in your postcode of interest, you will be able to see the price at which other properties sold for recently in the area. The article link below also talks you through how to use all the Zoopla tools in more detail.