Bidding War is going higher a good idea? Need help I have until Monday 5pm est

[Anonymous]

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@Anonymous wrote:
Bid what you feel the house is worth and also keep in mind you said you didn't want to lose it for a couple thousand dollars.

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I've decided to offer 3k more than aking price. If the appraisal is less than I can just back out or ask them to sell for appraisal price or pay maybe 2k more than apprasied price. 

[Anonymous]

It is up to the buyer.  New homes in my area sort of came to a halt.  No quality & the prices are in the 800's.  There is also a bidding war over here,  A friend just listed their house and immediately was offered 10k over asking plus all closing costs paid by the buyer.  He said he wasn't going to lose another home again.

So you need to decide if you're willing and able to go higher if you really want the house.  Or try a cheaper home so you have the capability to go higher if necessary.  

Hard decision.  Hope you get the house you want.  

[Anonymous]

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@Anonymous wrote:

It is up to the buyer.  New homes in my area sort of came to a halt.  No quality & the prices are in the 800's.  There is also a bidding war over here,  A friend just listed their house and immediately was offered 10k over asking plus all closing costs paid by the buyer.  He said he wasn't going to lose another home again.

So you need to decide if you're willing and able to go higher if you really want the house.  Or try a cheaper home so you have the capability to go higher if necessary.  

Hard decision.  Hope you get the house you want.  

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Thanks. This home is the cheapest home that I've seen so far. And for the things included it is a good deal. Most homes I was seeing were 400k and more I did see one or two for 330k but they went fast. 

[Anonymous]

Well here is the deal there are a total of five bids. They said they will make their decision by tomorrow. I decided to do an FHA loan my lender said there is no difference in time it takes to close. So that is good news O thought for some reason FHA might take longer. I did 303k instead of asking 300k plus I am paying full closing. I just hope no one went higher. There must be something that has them looking at all offers what else can beat my offer if its not higher? 

[Anonymous]

Just as I finished pressing post I got a text they went with another offer. 

[Anonymous]

The right home will come along, also you can feel better knowing that you put your very best offer in. Bidding wars are tough.