Another thread trying to work out how high (or low!) to make first offer

[NoseyNooNoo]

So, we've seen a house we like and I'm going to do a second viewing and it's highly likely that we'll make an offer.

Its on for £600k. We want to pay £580k. What should the starting bid be?

We're renting so can move whenever and have finances in place.

Any thoughts?

I'm also not sure when to place the bid. Our previous offers on other houses have been declined really quickly, in part I think because it's the first offer. This house is just on the market so I fear the same but then dont want to leave it and find out that someone else has got it.

How much interest is there and what situation are the sellers in? I would be tempted to try 5 or 10% off but no point messing around much if it is likely to sell quickly.

Well I'm not sure on vendor's position but will ask tomorrow. I'm really not clear on whether there is any other competition for it but as you say there's no point messing about only to loose it.

With the bid I want the first bid to be in the right sort of ball-park to make the 2nd bid of £580k look like it should be snapped up. However, it it's too low you look like an idiot!