closed bid

ixia

Hi new to all this. have found a house I am interested in buying a house valued at £95000 been on the market for 3 weeks. Went to put an offer in today and told there is another party interested. It has been put to closed bid have to put an offer in by Monday. Obviously dont know what the other buyers will offer.

They have a property to sell and I am A first time buyer with mortgage arranged would be grateful for any suggestions as what to offer.

Thanks in advance.

poppysarah

You're the better buyer. Don't bid up.
Stick.

olias

Impossible to say. I would just offer whatever you would have offered had the other person not been there and reiterate in your offer letter the fact that you have no property to sell, have a mortgage agreement in place (include proof) and have solicitors in place (get one on standby if you do not have one already.

vendors would be mad in the current market to opt for a buyer who has a property to sell for the sake of a small difference in offer price (which is all it would likely to be on a property of this value)

Olias

ixia

Thanks for your replies have a solicitor in place who will put the bid in for me. Property requires a lot of modernisation so don't really want to pay much more than the asking price. I was going to put an offer in under the valuation before I knew there was another party interested but not sure what to do now.

Poppycat

Put what you can afford if you really want the house

I sold my last house in early Feb 07 and had 2 buyers so went to closed bids there was 1.5k difference in price, thankfully the buyer who was 1st time buyer rather than BTL, much rather sell it to a young couple as we were when we moved in and loved that house

Glad it did go for more as we paid more for our next house due to old buyer from months back coming back into game just as we had our offer accepted. I always thought something dodgy about that until I found out the other buyer delivered a new table and chair to our house 2 years later

ixia

I also meant to say the property is empty. I think the family are selling it after a bereavement.

Hoping they are looking for a quick sale.

Any suggestions as to what price I should offer?

Thanks