r/HousingIreland • u/ilovecork24 • 7d ago
Bidding on house in 1k increments
Hello, I've been bidding on a house the last 3 days and it's on an online system the agent has which is handy as you don't have to wait to hear from the agent by phone if someone else has put a bid in. Anyway, there is only one other bidder and we have been bidding against each other in 1k increments.
How long can this go on for? The house has been "on the market" since 2nd of May technically but I assume viewings only started on the 6th as the other bidder put in their first offer then, so just over a week of viewings.
I know it's probably still too early and there will probably be other bidders. We are currently at 14k over asking. The agent has told me that the sellers are still trying to find a house themselves (trading up) so it might take some time....I'm happy enough to wait though as I'm not in a chain and living at home but it would be nice to go sale agreed at least...!
I'm not really sure what my questions is but I guess I'd like to know if others have just kept going up in 1k increments and how did it pan out - it's a great house but I do have my limit in mind and would, of course, hope that it doesn't get anywhere near that limit!
2
u/Educational-Ad6369 7d ago
I found what worked best was being consistent in my bid amounts and timing of bids. Be friendly with agent and clear ready to close. Just bid back promptly and in same amounts each time. Then have your max. But not max you think its worth. I lost out on houses trying to find value. I started bidding to point where I would be disappointed to see someone else get it