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Old 31.10.2012, 11:08
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The_Love_Doctor The_Love_Doctor is offline
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Re: Bidding on a house. What is the trend?

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As we talked above, I guess this is the banks' behaviour that they value the house less then the advertised price because they calculate everything accordingly when they give mortgage. If one want to sell the house after a while, he will advertise the house with at least the same price as the first one (or even more, of course if the area is not decreasing the value in general or something else bad happens).

What I understand is the whole thing is like playing poker, you have to take risks, and close your eyes at some point and go for it.. Which is something new and strange to me as the house buying process is completely different in my country..
This is ludicrous! It's not banks behaviour, it's the banks strategy to limit downside risk and transfer the majority of the risk to you!!! Why on earth would you want to take on more risk than even the bank is prepared to pass on to you!

The whole thing is absolutely not like playing poker! It's a sealed-bid auction where the highest bidder wins. You don't close your eyes and just go for it! And you certainly should not do that if it's something new and strange to you!
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