Value based bid

[Rose Davis]

I was looking at a property thats estimated value was 87000 but the asking price is $15000 for an auction. Does this mean that the auction is starting at $15000? I dont exactly know what value based bid is

[Brent Coombs]

@Rose Davis, without worrying about the answer to that question, ask yourself instead: what is the property worth to YOU? Why not treat it like any other auction: Keep bidding, from whatever their starting price is, but stop IMMEDIATELY it goes over your predetermined Maximum Offer?

With any luck, the bidding will stop BEFORE your maximum. Voila!