competitive biding

by karl
(Moncton, NB, Canada)

With respect to New Brunswick, can 2 offers be considered at the same time? Once an offer is written, can another one be added to the table? If not, why? If yes, then why at times do I hear this from realtors?

What damages can I realistically claim if both walk away from the table midway through a biding war?

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May 20, 2011
RE: Competitive Bidding
by: Tom Karadza

Hmmmm... we're not certain about NB, but definitely in Ontario this can be done and it's done all the time. You're Realtor *should* be letting you know every time a written offer is presented to him in person or via fax.

There's no real damages you can go after in your scenario unless you have a Conditional or Firm deal. Either party can walk away at different points of the negotiation... sounds like you need to find a good Realtor you can trust out there to walk you through the situation. You can always call the owner of the brokerage you're dealing with to get to the bottom of things if your requests are falling on deaf ears.

Tom

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