Offer before auction

I found a house yesterday I’d like to buy which goes to auction in three weeks. I’d like to make a private treaty offer(s) tomorrow. It’s in the 800k bracket on RE.com so was thinking to make two offers, one without finance at 855k and another with 14 days finance for 925k.

Any thoughts on how a seller/agent would respond to this?

 

What do the comparables tell you it would go for? The range isnt always accurate.

if the seller feels confident about the auction and expects at least 855, you probably have no chance.

fact is you need to know the sellers circumstances.

 

Thanks for replying, I agree some more context is needed. Domain Range is 700-900. It’s an ex rental. On flood awareness map but low flood risk (FPA5) in the 5km ring. A smaller house two doors down on a smaller block sold for 600 earlier this year. First open was yesterday, well attended. There was no paperwork or brochures or CMA. Agent said seller is ‘freeing up cash’. My gut tells me they’ve bracketed low to get the people through, but maybe seller is motivated. Don’t know.

 

You should be able to work out how much the property is worth. If it’s tough to figure out may be worth seeking professional advice - buyers agent, independent valuer etc...

 

The domain range is meaningless. Have you even looked at actual comparable sales? You are going into this blind.

 

As a seller, it seems there would be very little motivation to accept the $855k offer? If it was within an acceptable range I would just take the $925k offer (as the vendor), leave the auction advertised (if there is no legal issue with doing that) and if your finance didn't come through and the contract crashed, I still have the auction planned for one week later...

If you put this same offer to the vendor ONE WEEK before the auction, then there is at least motivation for them to accept the lower offer as your finance clause would run past the planned auction date.

 

Care to share @db9? I'm here to learn. (And aware that buyers agents and other paid services are available to those who opt not to DIY.)