Bidding Strategies: What Are Good Tips Regarding Bidding Strategies?
My recommendations for bidding strategies will depend on whether you are the only purchaser who is submitting an offer, or you are involved in a multiple offer situation. If you are the only purchaser who is submitting an offer, my recommendation is that you submit an offer which is high enough on the price so as not to be perceived as ridiculous, but yet low enough so as not to be accepted. Hopefully, this procedure will help you “smoke out” what the seller’s bottom line number is. While this procedure is frequently effective, you must nevertheless be mindful of the possibility that very soon after you submit your offer, yet another offer may be submitted, and thus you will then be at a “multiple offer situation”. In a multiple offer situation, you are well advised to make your initial offer a strong offer. If the multiple offer situation is an “avalanche situation” (twelve or more offers) it is imperative that your first offer be your highest and best offer, for the reason that you w
