Negotiation Advice

Hi There, would love to get your advice.

We went to first home open last week of a house on lower north shore. We really loved it and decided to make an offer pre auction.

So first offer went in at $1.275m unconditional. Real estate rang back and said can you do $1.35m. I said no way and final ended on a price of $1.31m. she said he was taking it to vendor and could we exchange tonight if accepted. Anyway day rolled on and no update, RE said they couldn't get in touch with owner. Next morning get a call that there is another buyer who has made a verbal and whats my next move. I hinted at 1.33 but she said that wont be enough.

So then got me thinking was there a legit offer on table? I then replied that I am still considering options and we do have an auction we going to bid at on Saturday. No reply.

So now considering my options. I am thinking we can stretch our budget to 1.35m so that would be our best offer. Might go to home open today and go talk to RE and make verbal. The other option is stand my ground and walk away onto next one.

Played the game of not being that interested to date, should I keep that going or now change tack and communicate to agent we really want this place?

Any ideas or advice would be appreciated?
 
Wait it out and pay only what you want to otherwise you'll have a case buyer's remorse.

It seems coincidental that the figure you can go to is the same one they asked for. When a seller throws up a number it's called an anchor and you get it in your head that that's what it's worth.

Worst case scenario is you go to the auction, bid as much as you are willing and lose. Best case you win for what your happy to pay.

Leave your emotions at home.
 
Exchanged today. Seems in 2nd week property got a lot more interest. In the end making an early offer and being friendly helped us win this property when it was deadlocked.
 
What did you end up paying?

Our middle son bought a house yesterday. We played the negotiating game, started lower than asking on Monday, countersigned by vendor, countersigned again by us, and they decided to sleep on it. I didn't sleep :D.

Yesterday morning, they accepted the offer (cash, unconditional... why risk losing us for $5K?). We were only $5K apart and I would have suggested our son stretch himself another $5K rather than lose the house, but luckily it didn't come to that. Every dollar counts for him as it needs a new bathroom and kitchen.

Houses are moving quickly in the lower price ranges around here, so he had to be quick. I reckon there would be another contract on it by now if they didn't accept his, but the next offer would likely have had building/pest conditions. We went in clean.

So, did you stick with your offer or go up?
 
What area wylie?

Holland Park. We went to look at one on Saturday morning and it was like feeding time at the zoo. People everywhere. Things are hot in the $500K to $700K bracket locally.

So many I've been finding are under contract already.
 
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