Basics
Asking price: 380k
Current bid: 320k (we're the underbidder)
Our max: 350. Last bid was 315.
House is vacant as was rented in academic year. Apparently went sale agreed last Winter for 350 and vendor wants 350 or above this time. There seems to only be one other bidder. It's a very desirable area but the house needs work and I suspect that is turning people off (particularly if they've had to stump up 20% deposit).
Is there any way to find out if there is really another bidder? Our strategy is to keep going up in 5's until 340 and then slow down to 2k increments. Would you do it differently?
Asking price: 380k
Current bid: 320k (we're the underbidder)
Our max: 350. Last bid was 315.
House is vacant as was rented in academic year. Apparently went sale agreed last Winter for 350 and vendor wants 350 or above this time. There seems to only be one other bidder. It's a very desirable area but the house needs work and I suspect that is turning people off (particularly if they've had to stump up 20% deposit).
Is there any way to find out if there is really another bidder? Our strategy is to keep going up in 5's until 340 and then slow down to 2k increments. Would you do it differently?