Hi! I have a question about a property that is being relisted over and over with Hubzu. We have been watching it for several months. It will go "under contract" with say a high bid of like 32, 000 and then my husband will get an email saying they are excepting back up bids starting at 54, 000? And then within a week its back on the market.
Is someone really bidding on this house? Does anyone really know what is going on and a strategy for actually buying the house? How can you figure out what the reserve price might be for the property.
Thank you for any insight into this situation.
As I posted on another topic. Patience. Keep bidding at the same price. They see you bidding. They just want to find someone who will over pay. It's called a "seller's market" for a reason.