How to formulate a bid for a property?

I think you misunderstand me. I am not afraid that I will be pushed to a higher binding bid than I can afford, but that the seller will raise the price because he thinks there is still room with us.

I personally find it perverse what is going on in and around Frankfurt. Everyone tries to squeeze out the last cent. Private auctions etc.

The market goes along with it. There is capital, after all

unfortunately

Exactly. The price is determined by demand and what people can afford to pay. And why should an owner give away thousands of euros? I would also try to get the maximum out of it.

I think you misunderstand me. I'm not afraid that I will be pushed to a higher binding bid than I can afford, but that the seller will raise the price because he thinks there is still room with us.

Is that such a gem

1000m2 and a standard land value of €530 + x% can't be matched by many.

I don't know the property or the location. Although 1000sqm with 16m width = approx. 62m length means a rather narrow strip, but not exactly dramatic.

But if downtown Frankfurt is reachable within a "reasonable daily commute," there probably isn't much to be done under a million.

I think your opponents are developers who will split the property (2x 16mx30m) and then build a semi-detached house on the two 500sqm plots. Shared driveway, the front property will then only be 13m wide, but nowadays such things will probably be built without any issues...

Good luck to you in any case!

He himself said I should send a "non-binding" offer. How the time pressure looks, I can

I think you misunderstand me. I'm not afraid that I'll be pushed to a higher binding bid than I can afford, but that the seller will raise the price because he thinks there's still room with us.

That’s why the offer should be made binding. Friendly minded.

It's bad when you get drawn into such games – at least you can try to take control yourself ;)

Don't drive yourselves crazy! Submit a bid that is OK for you and that's it! Our bidding process back then was handled through the Sparkasse because the seller (church) didn't want to be accused of nepotism. It was a blank sheet of paper with plenty of space for large numbers. Without any possibility to include "personal" information. Over a bottle of red wine, we came up with a price together, which we then wrote on the sheet. We handed the envelope in at the Sparkasse and immediately forgot about it because I saw ZERO chances. Three weeks later, the call: the highest bidder backed out. If you want, you can buy it :) What would it have done if we had offered an astronomical price?! Don't lose hope and don't go overboard just to win the bid. It will work out! I'm keeping my fingers crossed for you!