Don't go in hard that creates a sense that the property is worth alot to other bidders. (property value is self fulfilling prophecy). If everyone thinks it's worth more then there is more confidence then more people will bid up the price.
Often auction guys plant a mole to make the starting bid so it's very high.
Instead you should:
1. Make sure you make the first bid. When they ask for a starting bid. You should make the as low as crazily possible. This shows to others this property isn't worth anything.
2. Go slow increments.
3. Before you go in make sure you have a reservation price. Don't let anyone know your reservation price.
4. After making a bid don't say something stupid like that's as high as I'll go. That's probably the most stupidest thing I see people doing? that just encourages others to outbid you. "Oh this guy is out as long as I out bid him even by $100 I'll get it." So what's the point of saying those words? so stupid? (I see a lot of Caucasians making this stupid mistake all the time.)
5. Don't get caught out by "winners curse" that is go over what it's worth just for the sake of winning. (I see a lot of Asians always doing that. Out bidding people just for the sake of "winning" only later to get buyer's regret for overpaying.)
6. Cheap shots: flush all the water out of the toilet and take a dump in the toilet 2 minutes before open inspection. Often those cheap real estate agents will turn off the water so they won't be able to flush the toilet. The smell and everything will put off the other 6 buyers and any other buyers so the property is all yours for the taking at a very low bid. Works 80% of the time. Save thousands if not tens of thousands.
7. dress poor like there is no way you can possibly afford it. this creates an illusion to other bidders and shakes them; making them think if i outbid this clown i'm gonna make a fool out of myself and over pay.
Good luck!
