House Sale - Expression of Interest
Hi all, wondering if anyone has much experience with an Expression of Interest house sale, either as a buyer or seller.
We're looking at a property with a range of $500-600k selling under EOI. That's well with in our range, in fact we can go a bit higher, but as an OzBargainer, I'm mindful about offering higher than I need to (especially keeping in mind the seller has listed a top range).
Now doing my research, I've come to the conclusion that you put in one offer and they review it at the end date. Is that it? Am I right in assuming their will be no chance to counter, or in a real world setting is there a chance that a vendor might say "I like their conditions, try and get them to offer more"?
TL:DR - expression of interest sale - is my only option to put in my highest offer straight up?