Demystifying Vendor Bidding: Legal or Not? #realestateadvice

Vendor bidding is legal, but only by the auctioneer. All vendor bids must be announced as vendor bids during the auction and will always be below where the owner is willing to sell the property.

If a property is passed in on a vendor bid, the agent can deal with all parties showing interest in the property. To put yourself in the best position to negotiate, make sure that the property is passed in to you.

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