http://www.zillow.com/advice-thread/Going-into-a-REO-bid-war-with-only-one-comparable-sale/251872/ Zillow Advice | Zillow Real Estate http://www.zillow.com/advice-thread/Going-into-a-REO-bid-war-with-only-one-comparable-sale/251872/ You go up as far as you feel comfortable.  Don't worry about the idiot who wants to overpay.  Even if they win, they lose.  (Don't be that guy/gal) Thu, 02 Jul 2009 00:41:00 GMT http://www.zillow.com/advice-thread/Going-into-a-REO-bid-war-with-only-one-comparable-sale/251872/ 2009-07-02T00:41:00Z http://www.zillow.com/advice-thread/Going-into-a-REO-bid-war-with-only-one-comparable-sale/251872/ Some REO had the 2nd lien on the house, which is don't show up on county record, that may explain why there are the bids over the asking price, since much lower the house was listed then the market price.  Wed, 01 Jul 2009 19:52:00 GMT http://www.zillow.com/advice-thread/Going-into-a-REO-bid-war-with-only-one-comparable-sale/251872/ 2009-07-01T19:52:00Z