Hi All,
I’m bidding for my first property and have failed in the past. I’m keen on a property asking $270k+ (deceased estate and in need of renovations). There are considerable interests in the property as around the area, they generally go for around $320-360k.
Due to the interest, the agent may take it to an Auction instead. The vendor has put a must sale date of 29th of March.
Are there any tips you guys may offer? Eg. put in an early bid? wait or push for auction? or push for a closed envelop for set sale? etc.
Cheers!
put in a low offer before auction, give yourself time for another other if they reject or negotiations. remember that the auction will cost seller a couple of $1,000 so they will consider your offer as it will save them money.
that’s a good point, i forgot Auction does costs extra…
what would be a good figure to start with? i’m hoping to pay no more than $300,000 for the property. The house is quite run down so we’re really bidding for the land only.
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