House purchase - Experiences with open bidding process?

To see what people are actually willing and ready to invest in renovation for properties. This often differs greatly from one's own expectations and helps to understand why one might not have received the contract and what other people are able to spend.

You mean: one would offer too cautiously because one recalculated in view of their reserves what would be needed to raise the standard to 2010, and the successful bidder was content to upgrade the post-war witch's house only to the year 1980?

You mean: one would bid too cautiously because one calculated back from one's reserves what would be needed to raise the standard to 2010, and the successful co-bidder was satisfied to only beam the post-war witch's house into the year 1980?

That is exactly my experience as well. Renovate? At most new windows – the luxury option. Redecorate: maybe new textured wallpaper. Examples of full renovations – bringing a worthy house into the modern age: rarely seen. It probably can only happen rarely anymore, given the prices. Bids are made as if a house from 1962 is not near "end-of-life," but almost like new.

That is exactly my experience as well. Renovate? At most new windows - the luxury version. Refurbish: maybe new textured wallpaper. Examples with core renovation - a house worth preserving brought into the modern age: rarely seen. It may also rarely be possible anymore, given the prices. Offers are made as if a house from 1962 is not near "end-of-life," but almost like new.

That is exactly why we built ourselves. House from the 70s? 750K €? No problem, I’ll take it. That’s how it looks at the moment.

As written earlier, the matter is now statute-barred.

I wanted to buy a house, very cheap and directly from the bank. The owner's loan had become non-performing, and the bank wanted to sell quickly, privately and discreetly. There are special brokers who handle this, usually on behalf of the bank's recovery department, etc.
That still exists today, of course, foreclosure auctions are rather rare.

I should have been able to buy the house, but suddenly it was quiet for days. Too quiet. The broker was tight-lipped. I found out that a client of the broker had suddenly become interested in the property, and apparently another one as well. Now it had to go fast. I made an appointment with the broker and took an envelope of cash with me. I confronted him and made it clear with the envelope that I would be the buyer. It worked. Two days later there was suddenly a notary appointment.

Everyone has to figure that out for themselves. :rolleyes:

You probably won't find any morality in the real estate business of recent years. It's just a ruthless fight with no regard for losses. And the weaker one loses. I don't need to make any deals with myself about that. These are excesses of the market economy. Without social [aspects].