Hello all,
First IP Purchase- palms sweating and butterflies in Tummy. Who said this was easy ;-)
The house is going to auction soon. The agent is ready for offers/ "preauction bidding".
I have tried hard but the agent wouldnt give me a "number". Because there is meant to be an auction the agent is quoting a very very low number and saying anything over that.
What sort of bid is good to start with? What should be my strategy?
How low a bid is a good one to begin with?
X -10% -20% where X is the price of the house in my head or in other words my final offer.
The property is in Reservoir - decent sized block + prime location. Similar sales (within the street or next few streets) have been in the 510- 530K range, The agent is saying they are looking at anything over 300 (thought he was joking at first).
Should I put my first offer at 400, 470 or 490.
Thanks again
First IP Purchase- palms sweating and butterflies in Tummy. Who said this was easy ;-)
The house is going to auction soon. The agent is ready for offers/ "preauction bidding".
I have tried hard but the agent wouldnt give me a "number". Because there is meant to be an auction the agent is quoting a very very low number and saying anything over that.
What sort of bid is good to start with? What should be my strategy?
How low a bid is a good one to begin with?
X -10% -20% where X is the price of the house in my head or in other words my final offer.
The property is in Reservoir - decent sized block + prime location. Similar sales (within the street or next few streets) have been in the 510- 530K range, The agent is saying they are looking at anything over 300 (thought he was joking at first).
Should I put my first offer at 400, 470 or 490.
Thanks again
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