Would you get in a bidding war to buy a home?

One quarter of Canadians polled recently said they would get into a bidding war when buying a home, and half of those would pay up to 110 per cent of the list price.

Did you buy your home for more than the asking price? (Canadian Press)The vast majority, 75 per cent, of Canadians responding to a web-based survey said they would walk away from buying a house rather than bidding higher than the asking price.

The survey of 1,000 house and condo owners was conducted last month by Leger Marketing for BMO Bank of Montreal.

Real estate markets are very competitive in some Canadian cities. A Toronto bungalow recently sold for $421,800 over its asking price after an overseas buyer drove up the price.

In Vancouver, the hot housing market has priced home ownership out of the range of many families.

Would you get involved in a bidding war to buy a home? Did you buy your home for more than the asking price? Tell us about it in the comments below or email us at yournews@cbc.ca.



(This survey is not scientific. Results are based on readers' responses.)