In this paper we propose a novel vertex based sampling method for k-bandlimited signals lying on arbitrary graphs, that has a reasonable computational complexity and results in low reconstruction error. Our goal is to find the smallest set of vertices that can guarantee a perfect reconstruction of any k-bandlimited signal on any connected graph. We propose to iteratively search for the vertices that yield the minimum reconstruction error, by minimizing the maximum eigenvalue of the error covariance matrix using a linear solver. We compare the performance of our method with state-of-the-art sampling strategies and random sampling on graphs. Experimental results show that our method successfully computes the smallest sample sets on arbitrary graphs without any parameter tuning. It provides a small reconstruction error, and is robust to noise.