Last week, as planned, we found our second "future" house. This house is much bigger, and is also a foreclosure. That's two for two for picking a house that's a pain in the ass.
We put in our bid on Wednesday, and on Friday afternoon, there was a call for our "Highest and Best Offer". The house is currently being held by a law firm. Not sure if that's better than a bank-auction setup as per our previous bid.
We can't see what other people will bid, or if there are any other people bidding at all. So what do you do when you have one shot? In addition, the house is being sold as is. There is no way of knowing what needs to be done to get the house structurally sound and up to code, if anything at all. How far can you push your budget, and how much is too much when you're going in blind?
The deadline to make the offer was today at noon, so I'm hoping we'll find out who won this evening or tomorrow. Yes, I said "who won", because this is a game and I don't like to lose.
In the meantime, here are some sites that I've found helpful in the situation:
Know the Odds When it Comes to Bidding Situations
The Nest
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