Real estate markets ebb and flow from buyer oriented to seller oriented depending on the season, available stock in the community, and other various reasons. The current market conditions oftentimes drive the bidding process quite substantially. For instance, in a buyer’s market there is generally more negotiable room on potential concessions as well as the final sale price.
In the case of a seller’s market though, it is quite common to enter an interesting scenario where two buyers or more are submitting offers against each other, otherwise known as a bidding war. This scenario is obviously advantageous for the seller but is quite frustrating and difficult for all buyers involved. For situations characterized by a bidding war, follow the guidelines
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