FTB What to bid : mind games and skullduggery

Adam098

Hi, first time buyer here.
Seen a house I like , advert says 'guide price' of 215k.
Personally I think it's probably worth 210 tops, but have the money available to go 215 if I really have to.

Obviously I've never done this before so would like some help with my game plan.

I was considering starting at 205, facing the inevitable rejections and then hopping from 205 to 208 to 210?

Or, should I just get it over and done with and offer 215?

Any help with this would be appreciated ,I've never been a very good poker player

novelty-socks

Really hard to say without knowing anything about the surrounding area, local market, prices of comparable houses, time this one has been on the market, desire of seller to sell quickly, etc, etc.

But all that said, you know you're willing to pay £210k. So why not go in low, but be willing to up your offer quickly if required? It's always easy to bid higher but impossible to come down. I'd go in at £190k or maybe £180k (if feeling cheeky), expecting to get knocked back, but then I'd be ready to come back with an increased offer closer to my maximum.

I mean, if your first offer doesn't get declined, you've probably gone in too high. In general, the market favours buyers right now. Take advantage.

-taff

You offer what you're prepared to pay immaterial of what others may offer.
No point in offering more, a cheeky offer may be accepted or not.


We bid on a house before I wasn't prepared to pay more than a certain amount but the EA kept pushing us t up the offer. We did it a couple of times by a 1000 a time, but in the end, after we'd done it twice, I got annoyed and withdrew the ofer completely and we bought somewhere else.
I didn't think it was worth what they were trying to get us to pay.
They weren't happy but we were.

AdrianC

If you don't think it's worth more than £210k, why are you even considering £215k?
If you would pay £215k, then it must be worth £215k.


How long's it been on the market, has it already been reduced, are there other signs of wanting to be shot quickly (multiple agents, unfurnished)?


Somebody may put "guide price" for several reasons - perhaps it's just the way that agent likes to do it, perhaps they really don't know what it's worth but are holding out for the maximum possible, or perhaps they're just desperate to get shot and will take any vaguely sensible offer? Look for the clues...

datlex

I think it is worth a silly offer to indicate you liked it.