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A comment on Canada bans foreign home buyers for two years. Parent comment
> generally they will give you one chance to "improve" your offer
Of course, you have no idea what you're competing against, or if there even is a higher offer.
> in an open bidding system, you are literally in competition for who can/is willing to pay the most for the home.
This is true for blind auctions too.
> The ceiling is basically what you think is "fair". > in an open bidding system ... The ceiling is what you can/willing to afford
I don't see any reason why you couldn't set the ceiling to what you think is "fair" at an open auction.
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> generally they will give you one chance to "improve" your offer
Of course, you have no idea what you're competing against, or if there even is a higher offer.
> in an open bidding system, you are literally in competition for who can/is willing to pay the most for the home.
This is true for blind auctions too.
> The ceiling is basically what you think is "fair". > in an open bidding system ... The ceiling is what you can/willing to afford
I don't see any reason why you couldn't set the ceiling to what you think is "fair" at an open auction.