negotiation in victoria

[scott23]

hi all could someone explain how this works
looking at a house for 250 agent tells me an offer has been placed
but the owners are away and wont accept or decline for a week
and has invited me to put in an offer
i dont know the original offer and dont want the agent playing games
with me
thanks for any advice

 

[buzzlightyear]

If you want the property and fits into your plans, put in your first and best offer with an expiry date (say 24 or 48 hours). Don't worry about what the other bidder/vendor/agent are doing. Don't let the agent try and play mind games with you. Keep it simple and take the power back...

 

[BayView]

Standard agent game. They are obliged to get the highest possible price for their Vendor. Sounds like the agent is trying to do a good job. You may want to keep him to sell your properties in the future.

There's probably no other offer, but it's irrelevant.

If it is for an IP, put in the offer that will make the numbers work for you with a time limit as Buzz said and wait.

Of course; this should be the first and final offer, so when they come back to ask for a higher one, you then say no, and wait again. It'll either work or it won't, and if it doesn't you then move onto the next deal of the century.

If it is for a PPoR that you simply must have, that's totally different - emotion is involved. Start with an offer not far below your highest possible offer, based on the value you think it is worth and/or what you can afford.