Just lost an auction on the weekend. House was marketed at an estimated range of $620K to $680K. Property was declared on the market at about $700K, and after about the $750K mark it was only us and one other bidder. At the end we were going up in $1000 increments, however I didn't feel comfortable going higher when the price reached $810K.
I'm experiencing a bit of doubt and regret. This was going to be a PPOR and it ticked all our boxes. There is nothing else currently on the market that we are interested in. I've been constantly wondering whether we should have had a few more bids and maybe we would have won it. I was conscious about overpaying, as I had previously thought that it wasn't worth more than $800K, but I'm not so sure as there aren't many recent comparable sales in the area. We had spent money on a building and pest inspection already which was basically fine except for a few minor issues.
Anyone been in this situation before, hoping for some positive advice for the future!
I'm experiencing a bit of doubt and regret. This was going to be a PPOR and it ticked all our boxes. There is nothing else currently on the market that we are interested in. I've been constantly wondering whether we should have had a few more bids and maybe we would have won it. I was conscious about overpaying, as I had previously thought that it wasn't worth more than $800K, but I'm not so sure as there aren't many recent comparable sales in the area. We had spent money on a building and pest inspection already which was basically fine except for a few minor issues.
Anyone been in this situation before, hoping for some positive advice for the future!