firsthouse ponder

wdv

Hi all,
this is one of my first postings on MSE, though I have been a member for months.

I am in the middle of searchin for my first property. I have found a suitable home, and I went in with a strong bid of around 5k over the asking price. However, another bidder has bid 2.5k more.

News today announced a ban on new house builds across N.Ireland, and so house prices will rapidly rise.

Should I go back with an improved offer, even though it is way of the valuation price?

Or should I risk it and hold off?

Thanks for any advice guys...

cattie

As someone who found myself in a guzzumping war with the house I now own, which cost me £10,000 over the asking price (& which I really regret now), I would say walk away & wait for another property to come along, which it will.

Your offer of £5000 over asking price was a good strong bid & I'd have bit your hand off :rotfl: but be careful not to get caught up in desperately wanting a house & paying well over the valuation price.

What you could do is register your interest with the agent & ask them to let you know if the other interested party pulls out. Also let the agent know that you are a first time buyer & can move quickly as this will make you a more attractive purchaser than somebody in a chain situation.