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[Closed] Strategy for outbidding rivals on a house purchase

spacemonkey · 2013-07-08T10:21:52Z

Barely any houses coming on the market in these parts so it's no surprise there are two other families bidding on the house we want. Agent has been instructed by the vendor to obtain highest/final offers from all parties by tomorrow. Buyer A hasn't yet sold so isn't in a strong position. Buyer B is SSTC. We're renting (having sold a while ago) and have deposit/mortgage in place. House is a blank canvas requiring a new kitchen and about £10k of tidying up. All happily within budget if we get it for the asking price. But methinks we might have to go say £15-20k over 'the asking' ... whilst kind of hoping the mortgage valuer says it's worth IRO 'the asking' ... therefore giving us the chance to negotiate/meet in the middle. Am going to ask the agent if buyer B are upping their offer or even pulling out. Not expecting him to give anything away, but I'd be mightily peeved if B opted out and we went up £20k just to secure it. Any tips/ideas? Cheers

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spacemonkey

Posts: 1109

Free Member

Topic starter

Yep, exchanged

Finally I get a garage and a garden larger than a carpet tile!

Nice one John 🙂 Garages can make so many jobs that much easier.

BTW, just had our offer accepted. Went higher than we'd like but not as high as our cap. Needs a fair bit of work so projectmonkey mode now engaged 🙂

Posted : 12/07/2013 9:51 am

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