Property bidding strategies

In this episode, Michael reflects on the reality of bidding wars in the Irish property market and the different strategies buyers can use when trying to go sale agreed. He explains how even the highest bid is not always enough if a vendor’s expectations are higher than the market is willing to pay.Michael shares examples from two friends who recently went sale agreed on their first homes. Ian succeeded by being flexible on location, widening his search area, making his strongest bid early, and staying in position when other bidders dropped out. Isa took a different approach, focusing strongly on location, building relationships with auctioneers, and trusting the process until the right property eventually came along.Michael also discusses his own recent buy-to-let purchase, where he placed a strong offer above asking with a seven-day deadline in an effort to avoid a drawn-out bidding war. The episode finishes with the reminder that while bidding strategies matter, buying property is ultimately a numbers game: the more suitable properties a buyer views, and the more reasonable bids they make, the better their chances of eventually getting sale agreed.Show Notes:Michael's interview with Sean Moncrieff:https://www.newstalk.com/podcasts/highlights-from-moncrieff/is-there-a-right-way-to-bid-on-a-homeSubscribe to The Irish Property Podcast newsletter:https://www.propertypodcast.ieThis episode is sponsored by MortgageLine. Stephen Hamilton Financial Services Ltd trading as is regulated by the Central Bank of Ireland.