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It Sold for Over List Price. How Could That Be?
Houses Do Sell For More Than List Price
It might surprise you to know that sometimes homes sell for more than they are listed for and you may be wondering "how could that be?" Well, there are a number of reasons for that so let's just review a couple of them:
BIDDING WAR: Sometimes a house is listed below value in order to ignite a bidding war. This could be very risky and backfire on a seller but when it works, it usually works well. A bidding war is when a seller receives rapid multiple offers in a short time frame. When this happens, the listing agent will usually notify the buyer's agents that multiple offers have been received and that the seller is calling for buyers to submit their highest and best offers. From that point, the seller will often review the best offer and either accept the offer or begin negotiating with the highest bidder resulting in a sale for higher than the list price. PLEASE NOTE: Calling for highest and best offers is a courtesy and not an obligation. The seller can choose to accept the offer of their choice without giving multiple buyers the opportunity to submit their highest ... more
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