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  • In our case we were buying our neighbours property so for us the motivation was to ensure it didn't go to market. We were lucky that the vendor was comfortable doing the negotiation and we were able to avoid the property going to market because while it MAY NOT have sold for more than we paid we didn't want to risk that. It was worth more to us to throw a few more $$ at it to avoid the market competition and in the end i raised my offer 1.4% to lock it in.

    Based on what you have said (which is really quite limited) they want to test the market so see where the value is. If it hasn't been open yet, go along to the open home, every open home, stay the entire time so you can see how much traffic through the property. This will help you gauge interest, from there you can form a plan of attack.