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IRAN: Ebrahim/Simon

Thursday, July 13, 2006

Winning Bid

That was a great analysis of the situation I was in.

So operating (nearly) blindly we phoned in our bid as did the other party in the game - and the seller was able to chose the one he liked best.

I put it like this because the variables included more than price. Who could move fastest, who was in the best position to complete the deal and not pull out, etc. So price was not everything here. Or at least the calculation of 'best offer' included factors that went beyond the best bid price.

Our strategy was, however, quite simple: calculate a bid price that was both within our means and was also in accord with our hopes for doing work on the house if we got it. We looked at the maximum we could pay in those conditions and made a guess about the 'opposition'.

One thing we think we knew (and I think we were right) is that the opposition had originally made a bid lower than our own. The agent had told us: 'we have received another offer'; not 'we have received a higher offer'. So we guessed that they had less to play with than we had and that we did not have to go as high as our maximum.

Eventually we decided on a number just a little bit more than the original asking price.

And we got it! So now we have to get everything else organised - schools for the children being uppermost in our minds. Now we have to wait and see if the whole thing unravels (our buyer pulling out for example) or whether by the end of the summer we will be moving into a new home. Fingers crossed.

Simon

posted by Simon @ 3:44 pm   

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