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Redfin Real Estate Forums :
Boston :
Re: Bidding wars
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Re: Bidding wars
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Sean
Redfin Lead Agent
Posts: 16
Registered: 08-03-2007
Message 3 of 5
Viewed 1,583 times
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Bidding wars are actually
fairly common in Massachusetts.
Having multiple offers on a
property is a best case scenario for a seller and if the list agent plays it
correctly it can drive the price of the home up dramatically.
If you do find yourself in a
multiple bid situation it is important to keep your emotions in check to avoid overpaying
for the property.
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04-02-2009 11:48 AM
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Re: Bidding wars
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Sean
Redfin Lead Agent
Posts: 16
Registered: 08-03-2007
Message 5 of 5
Viewed 1,544 times
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Arlbuyer,
Most likely this means that the property is under agreement but the seller
has asked the list agent to mark the property as "active" in MLS. This allows
them to collect backup offers until the purchase and sales agreement is signed
on X date. Once this document is signed they will change the status to "under
agreement" and take it off the market.
I hope that this helps. If you would like us to look into its status for you
please let me know sean.valiton@redfin.com
Thanks for posting!
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04-02-2009 04:12 PM
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