Final Bid strategy

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Newbie!

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We are currently the highest bidders on a property which we really do want. We have been the highest bidders for a week and we got a call from estate agent yesterday to say there has been no movement from the underbidders. He spoke with the vendors and apparently they want closer to the asking price. It is currently 2% under the asking. We have the funds to offer more (albeit at a big stretch) but a part of me feels it's crazy to offer more when there is no active underbidder. However we want this house. What would you do? Heart or head?
 
We had a similar situation this time last year. we were the highest bidder against one other party. Estate agent told us they wanted the asking price and were willing to wait until they got it. We decided to be brave and told the estate agent to come back to us if we were outbid. We held out for 4 weeks with no news from the estate agent so called and said we were going to bid on another property and wanted to let them know out of courtesy. Our offer was accepted within 12 hours. My view is that there is no point bidding against yourselves. Good luck with it.
 
Newbie,

{property you really do want} ?
A good estate agent can smell your want, like a leech smells blood.
Your really wanting this house will have you {stretching}.Do not overstretch.
Take Missguideds, well guided advice !

Have another look @ what is available and keep an open (viewing) mind.
 
Its very difficult when you really want the house.
How much is 1% of the asking? What position are the sellers in? The EA might come back and ask you to 'split the difference' between your last offer and the asking price or some such.
Have they somewhere to move to. You certainly don't want to offer them more and then have them have you hanging around for months without moving out.
If the EA is calling you rather than the other way around, this means perhaps the sellers are just wanting him to shake the tree another few times to see is there any fruit left to fall down. How far from your first offer are you?
At the same time you don't want to lose the house over a relatively small sum, if it is the house in the right location that you will live in for many years.
 
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