Wednesday, March 26, 2025 / by Matthew Daniel Tamburello
HomeSellers, HomeBuyers & Investors: What Is Real Estate Bidding War and Is It Legal?
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker/Owner
Trinity Real Estate Consultants
647-697-6743
matthew@searchhomesingta.com
Some people consider multiple offers and bidding wars as the same. That is not entirely accurate because it is much more like a progression of one to the other. At any rate, differentiating the two and having a better understanding of the bidding process helps you in more ways than one. At best, you can avoid getting into a bidding war. If you were to find yourself in such a situation, your chances of owning that dream home are better. More importantly, you can avoid spending much more than intended.
Multiple Offers vs. Bidding Wars
When two or more buyers submit a written offer to buy a property, a “multiple offer” situation arises. On the other hand, a bidding war typically involves oral negotiations between the seller and each of the buyers’ agents. Its purpose is to make buyers outbid each other incrementally.
Lis! ...
Matthew Daniel Tamburello
Team Leader & Broker/Owner
Trinity Real Estate Consultants
647-697-6743
matthew@searchhomesingta.com
Some people consider multiple offers and bidding wars as the same. That is not entirely accurate because it is much more like a progression of one to the other. At any rate, differentiating the two and having a better understanding of the bidding process helps you in more ways than one. At best, you can avoid getting into a bidding war. If you were to find yourself in such a situation, your chances of owning that dream home are better. More importantly, you can avoid spending much more than intended.
Multiple Offers vs. Bidding Wars
When two or more buyers submit a written offer to buy a property, a “multiple offer” situation arises. On the other hand, a bidding war typically involves oral negotiations between the seller and each of the buyers’ agents. Its purpose is to make buyers outbid each other incrementally.
Lis! ...
