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but we want to lure in as many viewings as possible
Yes
Any advice on what level to go in at with a first offer in that scenario
What you think the property is worth to you. And second guessing these strangers.
Not sure there's anything else to it really, you know your need, you can get data on what places sell for, but at the moment things are properly weird at mo.
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Agents in E17 don't really need to create an inflated sense of demand unfortunately.
We offered 12% above on a place five months ago, had the highest bid by £1700. Didn't get it because our place wasn't on the market, which is what we thought would happen so it was more of a dry run.
There were a crazy number of viewings - think it might have been 16.
The Walthamstow property market still seems pretty hot despite Covid.
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How long has it been on? I've also seen it done when the price has been dropped but the person selling isn't really prepared to drop it much so I think the estate agent uses OIEO as a sop to them whilst trying to get it sold.
The one I bought was more like this and I went with £10k under asking. I'd seen enough properties by then to know it was worth about asking but not over.
What you think it's worth to you really needs to be your guide to what you offer, as vague as that sounds.
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When we bought our flat it was on at £250k and we offered £272k, and when we sold it was on at £425k and it went for £468k, if that gives you any indication of where to aim
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When a property in E17 is listed as "£x OIEO", can that be translated as "The property is valued at x+10% but we want to lure in as many viewings as possible to create an inflated sense of demand"?
Any advice on what level to go in at with a first offer in that scenario? Before the shit hit the fan and we shelved everything for a bit, we put an offer in of 400k on a flat listed at 400k OIEO. It apparently sold for 'more than' 450k.