Offer on house

[DevelopedChandosDifferences]

My partner and I are first-time buyers and viewed a house which is on the market for offers over £220K. The house has been on the market for 6-weeks at offers over £230K but was dropped last week.

We both really like the house and so put an offer in for £222K which we think is reasonable for the seller and affordable for us. At the time of our offer there were no other offers on the property

Yesterday, the estate agent called and said the seller was 'interested' in our offer but wanted to go ahead with more viewings which are booked in for today before getting back to us.

We are now concerned that we could lose out if another offer is made and we are outbid. We both really like and want the house but are unsure whether to increase our offer, especially as we are outbidding ourselves and no other offers could come forward.

Any advice is greatly appreciated!

Don't increase your offer until they have had the other viewings.

Don't increase your offer, it is a good offer already.

I would phone the EA tomorrow afternoon and ask how the other viewings went. If no one has made a better offer then I would repeat that you are willing to pay 222k but that is on condition that the house is now removed from the market.

If it isn't then you could threaten to view other properties over the weekend.

I should have added @DevelopedChandosDifferences if any of the viewers make an offer today that is higher than 222k the EA should ask you and the other interested party to give your best and final offers so that is the only point at which you should consider possibly raising your offer a bit if you can afford to.

Don't worry, if someone else makes a better offer you would usually be asked to bid again.