Open bidding is a clear way to make an offer on a home, where multiple buyers compete for the same property. In TRESA (the Real Estate and Business Brokers Act), sellers can choose to negotiate the sale of their property in a unique way. If the seller instructs the brokerage, they can share the details of competing offers with all potential buyers. This includes information like the offered price, financing details, and terms of the offers. However, personal details of the buyers making the offers are kept confidential. It’s important to know that the brokerage must still reveal the number of offers received by all competing buyers. This process promotes transparency and fairness in the home-buying process.
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We’re the Elevate Real Estate Team and we’re trusted advisors bringing value to your home search. We’re here to exceed your expectations, answer all of your questions, and share our years’ of experience, understanding, and professionalism in the real estate industry. We’ll listen to your concerns, understand your vision, and help you find the right home!
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Free home evaluations are part of being a Realtor in Sarnia-Lambton. Homeowners need the advice and guidance of an expert in this industry. As a full-time real estate team, we’re consistently meeting with homeowners to go over the market value of their home. Real estate list prices range depending on house location, nearby amenities, style of home, features of the home, and property size. A free home evaluation by our team is an easy way to evaluate whether it’s time to move to a new home and if the list price aligns with your budget.