We're in a similar position (though the property we're interested in isn't on the market as long). We're just sitting back and waiting-no point in bidding against ourselves!
I'm not sure I buy the "building up commission" argument ,because say 1.5% of 400k is 6 grand ,is it really worth jeopardising a sale and a 6 grand payday for a couple of hundred extra?
That's not always true, not if you want the house enough and if the seller won't budge.
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