If your offer is accepted, ask the estate agent to take the property off the market.
The money goes toward your down payment if your offer is accepted, and is returned to you if the seller declines your offer.
(Of course, if your offer is accepted and you back out, you lose your earnest money. So again, it makes sense to up the ante only if you're confident that you want the house).
Have a mortgage agreement in principle and your surveyor and solicitor ready before you make an offer, and request the estate agent in writing to take the property off the market as soon as your offer is accepted.
By James Surowiecki The New Yorker, May 22, 2000 P. 34 Talk interview with Priceline.com's CEO Jay Walker... [At Priceline.com] you go on-line, say what you're willing to pay for something (plane tickets, apples, whatever), and then find out if your offer is accepted.
The New Yorker, May 22, 2000 P. 34 Talk interview with Priceline.com's CEO Jay Walker... [At Priceline.com] you go on-line, say what you're willing to pay for something (plane tickets, apples, whatever), and then find out if your offer is accepted.
