What is a "bidding war"?

A "bidding war" occurs when your home attracts two or more buyers who want to buy your home. They all place an offer with their own real estate agent and you have a choice of which offer works the best for you. In the real estate industry, we also call this situation "competing offers".

- Bidding wars and competition for good quality homes happens in every single market, even during the challenging times we are in now.  

- As a real estate agent with 30 years in the industry, Marilyn knows how to facilitate the best way to both attract a "bidding war" on your home and navigate you to accepting the best offer.

- This process often results in receiving MORE money for your home, but occasionally other criteria are significant, for example, the possession date that works for you with one buyer wins the day over another who has offered a higher price.

- As a seller, this is a great situation to be in because your home is almost certain to be sold very close to your asking price and at terms that are favourable to you.

- As a buyer, this can be stressful and your real estate agent can guide you in the best way to structure your offer. Remember, this is NOT an auction where you know what the other buyers are offering, and you have ONE chance at getting the sellers attention.