Quick advice needed about offer

Pandilex

Put in an offer on a place

Got a call saying basically it's me & another guy, do I want to increase my bid.

Should I increase my bid, or should I wait to see if I get rejected, THEN increase my bid?

The estate agent wants to know my action now. I'm wondering if they will listen if I later raise my bid. Any ideas?

Seems silly to raise my bid without knowing the other person's bid.

tigsly

How much do you want the house - whats your best offer? -Put your 'best' offer on the table -and see if its acccepted

If I were a seller and had 2 offers - i'd go for 'best and final' and hope that the 2 'players' bid each other up

Pandilex

That's the thing, if I put the maximum I'd pay in I am probably just bidding against myself. But it depends what the other person does.

If my max bid is 5k higher than my own bid, I don't just want to bid that to find the other guy has not increased his bid. Better to wait and get rejected first THEN bid higher, surely?

I guess my question is really, if I do that, will the estate agent actually say sorry, too late now, or will the seller think I am messing them about or something?

benjus

This happened to me a few weeks ago - put in an offer, got a call back asking if I would go any higher, said no, then got told that the vendor had accepted another offer. So I got just once chance to up the offer. Turned out it was for the best as we found a place we liked more (and we'd thought that the first place was almost perfect), so really depends how much you want it.

DRP

Pandilex wrote: »

Put in an offer on a place

Got a call saying basically it's me & another guy, do I want to increase my bid.

Should I increase my bid, or should I wait to see if I get rejected, THEN increase my bid?

The estate agent wants to know my action now. I'm wondering if they will listen if I later raise my bid. Any ideas?

Seems silly to raise my bid without knowing the other person's bid.

Turn it around and ask him when/if the seller is accepting b&f final offers...

MSaxp

Every agent says the same thing about every offer. "there is another interested party, can you do a bit better?"

Obviously, sometimes its true.

Pandilex

I decided to up my bid by 1k. I'd go a bit higher if they got back to me and rejected my offer but I get the feeling from the way it's all being conducted that if they did phone me back to say my offer was rejected then that would be the end of it - last time I was outbid the agent was like, just phoning you to say you were outbid, thanks bye. He wasn't like, 'you got outbid...so....unless you want to make a higher offer...'

I think at this stage I'm happy to just leave it at that and move on if it's not accepted.

Thanks for the advice though everyone