Bidding War
Definition
- A bidding war can occur when multiple buyers are interested in purchasing a single property. Competing offers will likely cause the price of the property to escalate resulting in larger profits for the seller.
Synonyms
contest, auction, competitive sale, barter, bargain
Related Terms and Acronyms
- Asking Price — Definition,
- The amount of money the seller requests for the property or item.
- Backup Offer — Definition,
- A bid for a property that the owner will consider if the current transaction falls through.
- Counteroffer — Definition,
- Rejection of a purchase offer by submission of another offer with different terms (such as price or closing date). A step in the negotiating process.
- Low Ball Offer — Definition,
- A way-below-market bid a buyer makes on a property or item.
