How much should I bid for house?

[laura26]

i am putting in an offer on a house today for 330k, how much should i bid?the estate agent gave me all the blurb about they expect the house to go for more than 330k etc etc. i was wondering can i still bid whatever i want or can the agent refuse to accept an offer beflow the asking price?

 

[sare]

you can bid whatever you want, some houses the first bid is way below the asking price, one i bid for went up 40k in a single day so it can go either way. The agent is on commission so the burb is exactly that - burb. Go with your gut instinct and stick to it, and try not to get involved in a bidding war!

Best of luck