There is a little-known phenomenon in Real Estate Home Sales.
It seems like it mostly happens when Buyers are searching for homes that have been on the market an especially long time, and they are hoping to score a deep discount from discouraged and possibly desperately-motivated Sellers.
The phenomenon usually kicks in the very same day that the Buyers are ready to submit an offer.
Suddenly, there are not just one, but two or more other offers from other Buyers wanting to buy this languishing home, and a bidding war is born!
Buyers: Just because a home has been on the market over nine months is not necessarily a signal that the Sellers must now be willing to slash the price of their home. Just the opposite may be true - the Sellers will not accept a much lower price and that may be the very reason the home has not sold.
Keep in mind that complications generally ensue when their are multiple buyers interested in a property, as there can only be one Buyer who wins at the end of the battle!