To go in on the same offer as the current people

[Sofaz34]

My parents are hoping to buy a small parcel of land (around 2 acres) to use for leisure and conservation. They don't have loads of spare money so this will wipe out a big chunk of their retirement savings.

They have found the perfect piece of land and met the owner who wanted to meet the people offering as she thinks it's important that they are the right fit. My parents are very confident she really liked them and they will have a good chance of getting it. They shared lots of the same passions and she was very enthusiastic about their plans for it's use.

They have been told there are two offers of 70k. The brochure says that any offers will be disclosed to all those who have offered allowing them to up their offers.

Would it be better to offer 70k and hope that the owner picks them.

Or offer 71k to have that edge but then assume that the other people will up their offer and there will be a bidding war of which my parents can't win.

Anyone with land selling experience can advise?

£1k is less than 2% over asking price, it could be seen as insulting or indicate there is room for your parents to play in a bidding war. If your parents are already at the top of their budget I wouldn't offer anything above asking at this stage. That might provide some room for future negotiations once all the bids are on the table.

Is there future money that could improve your parents position in time?

The asking is 65k so already all three people are offering over asking. I'm not sure the ceiling on land really, it may be that there is a limit but in my mind it depends on how much everyone wants it as land will never depreciate. I think they already are pushing their limit so could only afford a few thousand more and thr owner will decide based on this next round of bids I assume so they may be at a disadvantage if they offer higher now.

@Sofaz34 the sellers are obviously hoping for a bidding war!!! tell your parents not to play their games!!! they are not being fair to any of the prospective purchasers! never known of the offer prices being made known to all of the people tendering!!! arable land in scotland is around 7 - 10 k per acre. if it has planning in site then the value will rise probably by at least another 100k. it would be better to check with the local council first think on monday morning to see if a planning application would be viewed favourably for building if that is what you are looking for.