Sealed bids - what would you offer?

[Totallyanonymousplease]

I need help!

gorgeous house was previously on the market for 625k with 2 different agents.

I tried to view it and was told it had an offer already under asking price… then It mysteriously came off the market then came back on with a different agent at ‘guide price 500-550’ . it’s a very small house but in a very desirable location - hard to value as it’s a one off and other properties in the street range from less than that for flats to big houses over £1m! I love it and want to offer….

500k would be ok in terms of monthly mortgage repayments. 550 would kind of be ok but would mean being very careful every month, no coffees, buying value range at super market…. We could do more in theory (as in the bank would lend us more) but more would mean really starting to cut back in terms of holidays and day to day life. But I really love it! Tbh I think it could easily be worth 625k.

what would you offer???

550 but I'd expect to be asked for more tbh if it was originally on for so much higher. Good luck!

It’s a sealed bid so there won’t be negotiation….

What's the highest price you could offer? If you didn't offer that, and somebody else did and got the house, how much and for how long would you hate yourself?

Do you have any idea how many interested parties there are?

Hmm at least 3 interested parties… I guess we could offer higher than 550 but it would start to eat into our lifestyle. But thinking at what price we’d be sad if someone else offered is a good way to think about it thank you all and good luck to anyone else in this position!!

Is your income likely to change significantly in the future?

Straight choice. Lifestyle or house. Your call. Personally, I could happily give up ever going on holiday again for the right house.