Bidding Advice

[thejuggler]

I am viewing a house today which I believe I will like and will make an offer. In terms of bidding is it wise to bid the guide price as my opening bid or would it be acceptable to bid 10-15k lower?
The house is only on the market two days so its liekly that mine could be the first bid. How would you proceed?
Asking price is 450k

 

[house_hunter]

If you are really interested in this house then put a bid lower than the asking price as a start. The estate agent is sure to come back if somebody has come up with a higher bid. so why do you want to put your starting bid at asking price.

 

[phoenix_n]

"Proceed at haste, repent at leisure"

Do a second viewing late next week and then ask if any offers have been made. I would advise bidding at asking price. I did that(put first bid in at asking price) during the feeding frenzy earlier this year thinking it would dissuade more viewers but the vendor just held out thinking the EA's price was maybe too conservative (which it wasnt) and got another 15K.

 

[therave]

kick the tyres and knock on the wall's.open and close the windows,grunt a lot ask stupid questions and tell the EA you will get back to them.then wait a week and go back and have a look with somebody else.ask if there are any offers.try not to make the first offer.if there are offers,ask what the status of the other bidder is,FTB or place to sell, and then make a bid