What would you do?

horngkai · 6 June 2013 at 1:09PM

We saw a house that just literally gone onto the market and have our first and 2nd viewing in consecutive days. The vendor is asking for OIEO £160k and we offered at that but was rejected.

The house is nicely done with new kitchen and extension to include a downstairs loo/shower and an extra good size single. My issue with this is:

1. The house around that area has been generally selling at £120-130k but that is without extension etc

2. I have a feeling the vendor does not really know what they want and is waiting to see what other people will offer them before deciding.

3. I really have no idea how to offer in the OIEO situation.

Would you continue to offer more? Or would you wait and see? We have just recently missed out on a nearby home and really don't want to miss another opportunity.

Thanks for your advice.

Dan-Dan · 6 June 2013 at 1:16PM

Well at the moment your bidding againts yourself ,so how much do you want the house ?

sammyjammy · 6 June 2013 at 1:19PM

Personally I would sit tight, when they come back in a few weeks time to accept your offer as they have had no others then tell them you've had time to think and your offer is now £155k but that's just me!

CapJ · 6 June 2013 at 1:21PM

Be patient. If you put in a higher offer now it might not be accepted. Keep looking if two were sold recently then they are coming on the market. Who knows maybe you will find something else. Meanwhile let the vendor stew, if yours is the best offer he might come back later.