Although it's not the norm, it does happen like this every day. A seller lists the house at a low price hoping to generate lots of interest and multiple offers. A listing is not an offer to sell. After all intial offers are received the seller will go back to all who offered and tell them about the multiple offers and ask for a final offer. Then the best offer is accepted.
It's really no different than sealed bids. You always know there are several bidders but you don't know what they are bidding. You have to decide what you are willing to give and stick with that number. If you get it great, if not then move on to something else. You may be the high bidder now, who knows? The seller may even reject all offers because none received are high enough.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
... [Read Article]
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