Can buyers mow down competing offers?

(Flickr photo by Martin Cathrae)

No one likes what buyers like to call a bidding war.  I like to call it competing bids.  Just like in an auction.

Whether the listing broker acknowledges a bidding “war” — some sales agents won’t suggest the situation in order to avoid discouraging interested buyers — a prospective purchaser may well want to mow down any current or future competition with an offer that the seller can’t refuse.

The first impulse is bound to center on a tempting price.

Given that most asking prices these days leave room for sellers to negotiate down, Continue reading