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Reply to "Houses that sell over asking were priced wrong to begin with "
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[quote=Anonymous][quote=Anonymous]The advantage of a bidding war - from the seller's perspective - is that when multiple people are bidding, contingencies are waived, and the sale can go on more smoothly. In addition, if buyers submit escalation addendums, the final price can easily be higher than it would have been otherwise. The other risk in pricing too high is that the house may sit for a while, which can discourage some buyers from making offers at all, and encourage others to submit low-ball offers. [/quote] These are definitely good points. [/quote]
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