Trying to buy a house in Ireland sometimes feels like engaging in a psychological war game.
We bid on a house 3 weeks ago which has been on the market for 8 weeks. Our bid was 8% below the asking price and was the only offer until this week. The vendor didn't accept it and was obviously holding out for more and for a competitive bidding process to begin.
This week a second prospective bidder entered the game with an extra €25,000.
I'm trying to figure out why anyone would up the current offer on the table by so much? Trying to psych out the person with the lower offer with a big "loads of money" offer? Could it be their best offer & they decided to put it all on the table?
Is there any point in even trying to guess someone else's strategy or the EA's game?
We bid on a house 3 weeks ago which has been on the market for 8 weeks. Our bid was 8% below the asking price and was the only offer until this week. The vendor didn't accept it and was obviously holding out for more and for a competitive bidding process to begin.
This week a second prospective bidder entered the game with an extra €25,000.
I'm trying to figure out why anyone would up the current offer on the table by so much? Trying to psych out the person with the lower offer with a big "loads of money" offer? Could it be their best offer & they decided to put it all on the table?
Is there any point in even trying to guess someone else's strategy or the EA's game?