Offer Price Questions

[Diana Brickett]

Hi all,

We just bought our second house and have an offer in on a third. We have looked at tons of foreclosures and have been picky on the condition and price because we want to make sure that there is a high profit margin :)

My question is.. How do you handle deciding what your highest and best offer is going to be. We use the 70% rule, but depending on how much interest, or other offers there are on the house you don't want to loose it over $1K difference.

How often do you get bid out on homes that you have put offers in on? Does it drive you crazy when you find out that the higher bid was only $1K more than yours!?

We'll find out on Wednesday if our offer was accepted. Going crazy until then ;)