Hi there,
Im a FTB and am thinking of placing a bid on a property. In today's market, I was hoping to place a bid for 10% less than the asking a settling for 5% approx below. However, the EA has already said that there is an offer for 5% below (before I indicated that I was willing to bid).
What I am now thinking (cynical/paranoid I know) is as this house has been on the market for 3 months now, and that, these days, many buyers are looking to bid under the asking price, that the EA is just making up the original bid so that my initial bid is close to the asking price and that he can then get me to settle for/above the asking price.
Is there any way that I can find out if the other bid is real or not? I like the place, but don't want to pay a cent more than I have (bloody thing is expensive enough already!) Are Estate Agent's obliged to give you the identity of the other bidder?
P.S. As I said already, maybe I'm just being paranoid/cynical, but I just don't trust EAs.
Im a FTB and am thinking of placing a bid on a property. In today's market, I was hoping to place a bid for 10% less than the asking a settling for 5% approx below. However, the EA has already said that there is an offer for 5% below (before I indicated that I was willing to bid).
What I am now thinking (cynical/paranoid I know) is as this house has been on the market for 3 months now, and that, these days, many buyers are looking to bid under the asking price, that the EA is just making up the original bid so that my initial bid is close to the asking price and that he can then get me to settle for/above the asking price.
Is there any way that I can find out if the other bid is real or not? I like the place, but don't want to pay a cent more than I have (bloody thing is expensive enough already!) Are Estate Agent's obliged to give you the identity of the other bidder?
P.S. As I said already, maybe I'm just being paranoid/cynical, but I just don't trust EAs.