Hubzu bidding strategies
I have my sights set on a Hubzu listed property.
They started the bid at 208k and with no other bidders, I bid to 210k at the last minute. The reserve had not been met, and they Emailed the following day with a counter of 269k (appx 280 after the 4.5% buyers premium they charge). I declined.
Now, as expected, they relisted the house with a starting bid of 210k. There are still no bidders, and it doesn't look like there will be.
My question: Do I still bid the 210k to keep their system aware of my interest or just let the auction expire and keep watching until they lower the price (and potentially the reserve)? I think the property is worth about 235k in its current condition.
On a side note- does anyone know what percentage of the commission the buyer's agent receives?
Thanks!
Matt