[mykalberta]

Back in 2006 when I was looking there were lots of bidding wars on Calgary.

Back the I had a 225k limit, the condo listed for 195 and when I looked at it I figured it would need 20K in renos to make it worth it so I bid 200 no conditions (already knew someone who lived there and used their home inspection).

Sat in the car for an hour, seller came back and said "love your "clean" offer but could I go to 220k, It told my realator to fk them and we drove off.

I know the dilema you are in, I was in 6 bidding situations all of which I lost until at the last round of looking I found a place that I made an offer and they accepted it but there was no bidding in that situation. The big thing for you is look to see what places like that are going for, if they are going for 460 then they want to much, if its going for 480 then its in the ballpark no matter what their asking price was.