Re:Canada bans foreign home buyers for two years
by alistairSH on Tuesday April 19, 2022 @11:01AM
(#31084078)
That still suffers from the stress at the end of the week.
Say an auction closes at 5pm Friday... I bod $500k on Wednesday. Somebody bids $501 Friday 4:50. I bid 502... they 503, right up to the last moment.
And if the site is like some online car auctions, any activity in the last 5 minutes extends the auction by another 5 minutes. So, 504... 505... and on up until somebody walks away.
A home purchase is the largest single thing most people will ever buy. It's going to be emotional, even if the buyer manages to stay calm.
Re:Canada bans foreign home buyers for two years
by fratlas on Tuesday April 19, 2022 @07:15PM
(#31090626)
In my experience it was less emotional than in person auctions I've attended. I knew my limit and stuck to it, there was no agent talking me into bidding higher.
Say an auction closes at 5pm Friday... I bod $500k on Wednesday. Somebody bids $501 Friday 4:50. I bid 502... they 503, right up to the last moment.
And if the site is like some online car auctions, any activity in the last 5 minutes extends the auction by another 5 minutes. So, 504... 505... and on up until somebody walks away.
A home purchase is the largest single thing most people will ever buy. It's going to be emotional, even if the buyer manages to stay calm.