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 - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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