We bought one about a year and a half ago. Our agent recommended that we bid the asking price so it would pretty much guarantee we would get the house. He knew that there was someone else who was going to bid on it and if they were to bid higher than us they would have gotten it. So, we just bid the asking price which was way below market value. It was a fixer upper but still in pretty good shape structurally just needed small things, carpet, paint, stuff like that. I think we probably have about 20,000 in equity on it already! We got a great deal! Oh, and we weren't able to negotiate the price after we put in our bid. They did give us a $3,000 allowance but I can't remember for what now!
at 11:27 PM on Jan. 26, 2009