(edit title) Bidding on a house in Sweden We just put in a bid on a house. Options

[kaylo77725]

We put in a bid on a house and we don't want to go over 100,000 sek over our initial bid. There is another couple interested in the house the real estate agent said but hasn't been able to get a hold of them. If they bid over our bid just out of curiosity what increments would you bid over them? I don't want to be like 5,000 over because that is to low. So what increments would you do? We know 100,000 isn't that much but there is another house we like so if they go over that we will switch over to that one. Thank you for reading my post..

[thebigc]

Depends on your strategy. If you increase the bid by a smaller amount the more likely the other bidder will counter. I have bid over by only 10K for a house when my interest was lukewarm just to see what the other bidders would do but increeases of 25K and 50K are probably more common.

Good luck.

[Snoopy!]

Also depends on how badly you want the house !
We really wanted our current house & made the opening bid & it went back & forward like this with 3 other bidders for 2 days & we always had a maximum figure in mind .
Made the decision to stop playing games & upped the ante with a considerable jump, which was enough to scare the competition away.

[hjoian]

Agree with Snoopy. I went in with bid increases of 50k just to get rid of the time wasters that were bidding up 1,000kr at a time. Its a good tactic,and a lot of Swedes thinks Brits moving to Sweden have stacks of money,so have in occasions, just pulled out of bidding. A friend of mine pulled a real fast one on a property,scared off all the other bidders,and got the house for much less than the agent thought it was worth, just because they knew they were bidding against an Englishman. Go in high and pressure the agent fast bid turnarounds. Good luck

[wabasha]

I bid on 2 home before buying just 2 months ago. what a process... we bid in 50k bumps and 25k at the end. A house we didn't win had people bidding in 50k bumps but near the end bidders raised it by 100k, later finding out the home sold for over 30% above opening bid. its just crazy