Hi, I am a first-time buyer so I'm nervous about bidding. There is an offer in on a house I like, how long should I wait to counter offer?
The first offer is 9% less than the asking price. I am nervous about getting into a bidding war so I wanted to wait it out to see if there are any other interested parties. The EA said it is an executor sale and they rejected the first offer as it was too low and the house was only on the market 2 weeks (it's actually a month), I've waited 2 days but planned on a full week to see the ly of the land - is this naive? I can pay up to 3% less than the asking price so I was going to counter with 5k more so they know I am serious, this should leave me room to make one more counter bid...
Any advice is appreciated as I am buying solo, how do executor sales usually go - do they hold out for the asking price, a quick sale? I am FTB so I can move quick, I was trying to use that as a selling point. Plus the house needs a lot of work.
Asking: €275,000
Current offer: €250,000
The first offer is 9% less than the asking price. I am nervous about getting into a bidding war so I wanted to wait it out to see if there are any other interested parties. The EA said it is an executor sale and they rejected the first offer as it was too low and the house was only on the market 2 weeks (it's actually a month), I've waited 2 days but planned on a full week to see the ly of the land - is this naive? I can pay up to 3% less than the asking price so I was going to counter with 5k more so they know I am serious, this should leave me room to make one more counter bid...
Any advice is appreciated as I am buying solo, how do executor sales usually go - do they hold out for the asking price, a quick sale? I am FTB so I can move quick, I was trying to use that as a selling point. Plus the house needs a lot of work.
Asking: €275,000
Current offer: €250,000