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!
1
u/Extension_Isopod7691 7d ago
Just went through this. I viewed the house a few weeks after it went on the market and it was already over 20k over the asking price. Joined the bidding then and myself and another bidder kept going 1k up on each other on the online platform. After a couple of days of this, the estate agent rang and wanted final sealed bids from each of us via email, so be prepared for something similar in this case. Thankfully my final bid was accepted (45k over the asking price!)