How long can/should I go when offering to buy a house?

[RonSwanson]

You can literary offer them R5 for the property and the agent MUST present it to the sellers. Do your homework regarding the area and what similar places go for in said area.

I know you are probably scared they might reject it and move on to another offer but its part of the game.

I offered R400k less and the sellers accepted it and it was on a R2.7m property.

This.

@OP, do your homework, study the area, make note of properties for sale, their asking prices, as well as what some of them actually sold for (Prop24 has a free feature that does the latter). So that when you present your offer to the agent, and he/she will inevitably try to convince you to change it upwards, you have a well-reasoned response. The agent will tell you a number of things, that the seller has rejected offers for far more, that the current price is fair and good value, don't let them speak a hole in your head. Dig your heels in, insist that you have done your homework and that it is your final offer. Insist that the agent present it as is.
Good luck.

 

[ToxicBunny]

This.

@OP, do your homework, study the area, make note of properties for sale, their asking prices, as well as what some of them actually sold for (Prop24 has a free feature that does the latter). So that when you present your offer to the agent, and he/she will inevitably try to convince you to change it upwards, you have a well-reasoned response. The agent will tell you a number of things, that the seller has rejected offers for far more, that the current price is fair and good value, don't let them speak a hole in your head. Dig your heels in, insist that you have done your homework and that it is your final offer. Insist that the agent present it as is.
Good luck.

Why do you need a well reasoned response when the agent throws bollocks out there? Just tell them to present the offer and do their job and leave it at that.

 

[RonSwanson]

Why do you need a well reasoned response when the agent throws bollocks out there? Just tell them to present the offer and do their job and leave it at that.

True, but it does help, especially when lacking confidence (1st time buyer).
Many agents have been in the game for a long time, they have a set of predefined steps in their closing strategy, they have had years to perfect them, and they can be very persuasive (especially younger first-timers). By contrast, your average home-buyer (not an investor) gets to exercise these skills once every 7-10 years, if that much.

Personally, I like to be prepared for battle, and at the same time to maintain an amicable, professional and cordial relationship with the agent. There has to be at least one reasonable argument for the lower offer, that can be repeated over and over again if need be, whilst still smiling at the agent.