![]() ![]() ![]() There’s perhaps no better way to define and describe the importance of competitive bidding than by examining its opposite: negotiated bidding. In the following sections, we will discuss seven things you ought to know about competitive bidding in real estate transactions, including how it works, competitive bidding examples, types of competitive bidding, and competitive bidding advantages and disadvantages. But the transaction can unfold entirely differently when buyers and sellers employ competitive bidding. Usually both parties work with a real estate professional, a negotiation process takes place, the listing price often gets whittled down, and ownership transfers after lots of back and forth. When buying or selling a commercial or residential property, most buyers and sellers have a preconceived notion as to how the process will unfold. ![]()
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