How to base you bid amount?

[mesha]

If a property had a  min. bid of 15,000.00 and you are really interested in it how high do you go to be in the running.  Would bidding 30,000.00 be resonable or more like 25,000.00

Do builders often bid of these properties?

[RichD]

First you need to decide what it would be worth on the open market. Once you do that, you need to decide what it's worth to you. Then you put your bid in, keeping in mind that the closer you are to the "open market value" the better your chances get of winning. In this market you won't likely get any thing off value for pennies on the dollar. How ever like any auction you never know what a property will go for. Hind sight will be 20/20 but if you believe the property is worth $30,000 and you bid $15,000 but you would have been happy getting it for $20,000 you'll wish you had bid the 20g, however if you bid the 15g and get it......... In a nut shell mesha there is no way of knowing. Base your bid what it's worth to you.

I would be surprised if builders didn't bid on these properties.