What does 'Bidding Wars' mean when buying a property?
Find out what Bidding Wars means when you are buying a property. 'What does Bidding Wars mean?' plus over 150 other property related terms and jargon in plain English
Where one or more parties has offered on a property the seller may try and play one buyer off against the other asking each one to bid higher in a similar manner to an auction.
However encouraging this type of behaviour is not recommended because this emotionally charged situation often leads to the winning buyer withdrawing a few days later when they realize they got carried away.
Most professional agents will recommend sealed bids as an alternative.
To learn how you can handle bidding wars and sealed bids successfully pick up a copy of my ebook How to Really Buy a Property.