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Old November 14th, 2005, 07:08 AM   #1
ned
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Default i bid on a house on thursday

i put a bid on a bank owned house on thursday
i should find out today if my offer was excepted
my agent said 5 other people bid on it also
http://www.realtor.com/FindHome/Home...2&lnksrc=00002
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Old November 14th, 2005, 07:10 AM   #2
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Good luck!!

Its always scarry when using the sealed bid thing..

But on the other hand, auctions tend to have people really work against each other and end up with a higher selling price
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Old November 14th, 2005, 07:18 AM   #3
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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!!
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Old November 14th, 2005, 07:27 AM   #4
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Good luck!
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Old November 14th, 2005, 11:54 AM   #5
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good luck hope every thing works out
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Old November 14th, 2005, 12:34 PM   #6
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Quote:
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!
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