The Market

Should you bid against yourself?

By A. Ready | December 7, 2010 - 2:44PM 

Sellers love bidding wars; buyers--not so much. On StreetEasy a prospective buyer has been told that there is a higher bid on a Greenwich Village studio with "basic" renovations, but the apartment is still being actively shown. Should the buyer up the bid, or walk away?

Most weigh in on the side of walking, with one commenter noting that a buyer should never fall in love with an apartment prior to having the keys in hand.

"This does not sound like the ultimate dream apartment, one of a kind-gotta have it place," counsels a broker. "Sometimes it may be worth getting a bit irrational, for something that is truly one of a kind, that makes your heart beat a little quicker. But usually this is reserved for the uber wealthy who simply want what they want; and can afford to be a little cavalier with their money."  (StreetEasy.com)

 

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