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Apartment bidding - in or out?

Need strategy advice

post 10.Oct.2019, 02:26 PM
Post #1
Joined: 24.Jun.2018


Some apartment buying advice needed!!

We have made a bid on an apartment that is just over the starting price. The agent came back to us and said the owner would not accept unless we went 20k sek higher - but there are NO other bidders and all the viewings are over. We refused to go higher when we have made a good offer and today the agent said the owner will wait for a higher bidder, which they are sure will happen.

Should we leave our bid there and wait? Is there any strategy we could do to push them? Should we withdraw our bid?
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post 10.Oct.2019, 03:48 PM
Post #2
Joined: 9.Aug.2018

My comment will not prove useful to you. I'm just interested in the same topic.

I wonder why they started the bidding lower than the seller was willing to accept then...

Is it possible for the seller to back out?
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post 11.Oct.2019, 11:06 PM
Post #3
Joined: 17.Jan.2011

Put a time limit on the validity of your bid, say 24 hours. Sounds like you have the upper hand (unless they have scheduled more home inspections or have someone else about to make a bid).
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post 20.Oct.2019, 12:33 PM
Post #4
Joined: 12.Mar.2015

No worries. Just wait and not to do anything else. If some one else comes and give a bid, you can think of it and give higher bid. However, not to bid early. Wait to see what will be happen. If the Broker calls you and inform that they are going to close the bid, you can think of it and give your bid in case you want.
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