#THECLOSERSDAILY : EPISODE 145: BULLY OFFERS ROUND 3

Bully offers round three. So yesterday we talked about how bully offers look from the buyers perspective, or the sellers perspective. Today we're gonna talk about form 801's and actually dealing with the bully offers. So form 801 is what a real estate agent will provide you with, indicating that they have an offer. There's no details so you don't know the price, you don't know the conditions or anything else. It's just to formalize that they actually have a registered offer. They actually got rid of phantom offers. You can see that in the previous episode. So in the bully offer scenario, if there's a form 801 submitted, then you are protected because you'll likely get a crack at submitting your offer before the bully offer gets accepted. So it's always important to register your interest in a property so you don't get rushed over by somebody else who came in with this strong offer in a very very short condition period. You know from a sellers perspective it goes back to the conversation that we had yesterday is you need to gauge he interest you have on the property, how many offers you're expecting, how high are you expecting that ceiling of value to go. From a buyers perspective you want to mitigate that risk. We'll talk about that in the next episode tomorrow as well.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”