The short answer
Review comparable sales, local market trends, and historic transaction data to assess whether asking prices align with actual market conditions.
An asking price on its own doesn't tell you much; it's the pattern of what similar properties have actually sold for nearby that does. That context is what turns a guess into a genuinely informed offer.
Why this matters for your purchase
This is the kind of thing a PropM8 Property Intelligence Report is built to surface early, before solicitors, surveyors or lenders are involved, while it still costs nothing to walk away.