Originally Posted by ned
our last house we bid on
we knew we had it just a couple of hours after we had bid on it
it sucks waiting to find out
i'm hoping the other people have contingencies such as waiting to sell there home!!
That is one of the many advantages of selling your home using the auction method. You set the terms and there are NO contingencies. They either have the money or they don't. Real estate by auction is finally starting to catch on in Michigan. It's a great way to buy as well. You set your limit and you know the same day if you won or not. No more waiting 2-3 business days for the seller's to review your offer and counter it. Usually a real estate auction takes 30 minutes at the most. If you don't win, you may be able to go to another auction that same day. Try putting in multiple offers traditionally in the same weekend... ;)
Good luck and I hope you get the house!