-
The whole point of placing an offer is that you are offering to pay what you think it is worth and are happy to pay for it. To an extent, nothing else matters...if you want to live there and think its a fair price.
Stonehedge-
Or you are offering what you think the buyer would accept, given a few things...
how long the place has been on
how many times the asking has been reduced
the general state of the market (up or down)
the long term outlook for houseprices (good or bad) -
That's a simplification although it does kind of apply to a one-shot system like Scotland's sealed bids.
Outside Scotland it has become a hideous game of "how can I do this to pay the minimum I can". With added games like last minute offer reductions (knowing that it could fuck the chain completely, etc).
Howard
Greenbank
We offered the asking price and were accepted. Naively assumed that by not pissing around we'd get a relatively straightforward purchase. No idea if that helped but it was nice and (relatively) painfree.
The good thing is we'll never know whether we overpaid or not so there's no point worrying about it.