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Ok, I've had to walk away as apparently they do have much higher offers and I won't be matching them. Just a bit disappointed about not having met my goal of buying my second IP by the end of 2011.

I heard back from the agent today. He said they had two other offers, one being $20,000 higher than mine at $205,000. While since the estate solicitors just came back to their office today, none of the offers had yet been considered by the solicitors/beneficiaries of the estate. So I said, look...

Will be sticking to the offer of $185k. Now just need the solicitors to be back in office who can then put it forward to the beneficiaries...

Agreed vaughan. Actually I may stick to my $185k offer. Don't think I'd get it any cheaper. But you never know. Because the property stinks so much, I am sure it will put off many potential buyers.

I'm considering lowering my offer given the comperatives. I have time as the solicitors for the beneficiaries are on holidays till 9th Jan (like most other solicitors). I flagged to the agent how another villa in the same complex sold by their agency for $195k and was in a heaps better...

Thanks wobblycat/Rob. I had an 8:30am call from someone from the agents to say that the solicitors of the benficiaries don't open till the 9th January. So I told him that I had done some research and that I would be revising my offer. I will be emailing this offer a bit later. Likely to be...

Thanks Aaron :). I am seeing the agent tomorrow for another property. I might actually say to him that I did a bit of research and will be downgrading my offer to around $175k. My offer may not get accepted, but I don't think it's really worth it otherwise.

Actually I might have to reduce my offer as I see the other villa sold in the complex for $195k in August is in a HEAPS better condition!

I believe those villas are a lot smaller and a few for sale in the same complex. This one, I see potential to value add by fixing up. But still considering.... Do people normally offer and then downgrade offers? Apologies if this sounds silly.

BMan...you are right. Perhaps it isn't a lot cheaper. But the previous one was an auction - not sure under what circumstances and what condition though. I am not keen to go any higher than this anyway. How often do people revise their offers to be LOWER than what they first offered before/after...

Hi guys, I've been striving to meet my goal of buying my second IP by the end of 2011 but I haven't yet been successful as I aim to buy 15-20k (or more) below the market comparatives at least so I am able to move to my next purchase quicker. This is what I did with my first purchase that I...