bargain, they will probably come back with a much higher bid. In the event the bidders really do want your property, out of all the properties available, this procedure can work well. However, you’re likely to lose the deal if this is just a person gobbling up cheap real estate the way some people gobble cookies. While that might seem bad at first, in retrospect, it leaves you completely open to better offers in the future. And, let’s be honest, you want someone who wants your home, and proves it by being willing to pay your asking price (or more)! >USEFUL TIPS It’s most desirable to use this approach when your home has just come on the market or if you have an open house scheduled soon. Keep in mind that whole legal counteroffer thingamajig, too. The instant you accept and sign off on a low contract offer—which could be a real estate vulture on the prowl—you’re tied to that contract. While you and your bidder are working on the accepted contract, you can’t entertain any other offers. That wastes your valuable time, and could cost you better bids.
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