What is the point of providing seller with a bid range vs just a targeted bid? Is there anything preventing seller from counter offering at maximum bid? Providing range seems like a disadvantage for buyer and advantage to both real estate agents.
The only normal time I can see doing a range is with an escalation clause. Is this what you're talking about ?
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Nothing stops them from countering at max bid, but my bid included an escalation clause that requires you to show me a competing bid that would cause my original bid price to go up. So seller counters, and there are 4 possibilities 1. I take it. I was willing to go that high, I don't have to worry about someone else coming in over the top, etc... 2. I reject it and keep my original offer. I don't play those games. My terms were clear. Show competing offer or my bid will expire in 48 hours anyway. 3. I walk away. 4. I counter to some other price. So the question comes down to: does the buyer want to buy this house more than the seller wants to sell this house?