I agree with kingpins. Don't meet his offer half way first off. Wait as long as you can stand and come up to $260,000. See how much he reduces his next offer by.
If they want to sell they will come down to meet you. I know buying and selling is a very emotional business but you have to be tough to get value for money these days. You don't want to rip the other guy off but you want the best price you can get.
Went to the property show the other day and a guy there picks his suburb and looks at properties on the market for $350,000. His first offer is $250,000 and he never goes above $280,000. He just puts in offer after offer on house after house until someone agrees to negotiate down.
Good luck. Don't rush to get back to the agent. Make him think you are interested in lots of other properties too.
