I'm considering bidding on a property that an agent has told me has an offer by another party currently:
I'm considering offering under the sale price, for various reasons -
A) With my 1st offer, taking it that it will be under sale price -should I time limit any offer, what's considered standard? - or as there's another apparent offer, should I attach no time limit
B) One thing I'm very anxious to be clear on
If I put time-limit on the offer, does that convey to the agent/seller that I won't come back with ANY other offer if they don't accept THAT time-limited offer - thus they won't update me or give a chance after the expiry of my earlier offer?
OR
Would it simply be that it's seen as condition of that particular offer -and that I'm free to come back with other offers at later stage.
C)Agent simply said that there was an offer, never mentioned amount - is it something I can reasonably ask for, do agents provide to prospective bidders? OR do they never provide this, so keeping both bidders in dark even during mutiple bid situation?
Appreciate some clarity on above from those in the know.