Study shows most properties with a set offer date failed to sell
Ask a home buyer what they dread the most and the answer may very well be a bidding war. What they might not know is that right now the vast majority of home sales employing the offer day strategy – a day the seller sets aside to consider any bids on the property – result in no offers and no sales.
In July, according to data compiled by a new real estate search service called TopHouse.com, the percentage of all homes listed for sale that sold on an offer day is somewhere around 7 per cent in the largest real estate board in the country, the Toronto Regional Real Estate Board.
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