Listings with Offer Deadline

Hi,

I've noticed that recently there has been more listings (at least one down the street where i live) that also put up a deadline for reviewing offers. Is this a new trend or does it have to do with COVID to entice interested buyers to bid? What are the pros and cons for sellers if they choose this method?

I'm interested to hear your opinions on TI.

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crlaoy said:

Hi,

I've noticed that recently there has been more listings (at least one down the street where i live) that also put up a deadline for reviewing offers. Is this a new trend or does it have to do with COVID to entice interested buyers to bid? What are the pros and cons for sellers if they choose this method?

I'm interested to hear your opinions on TI.

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Typically you'll see those deadlines to review offers when the home has multiple offers and indicates either when the seller is reviewing the first set of offers or when they are reviewing best & final counters/offers (that's how I use it for my listings on Redfin), I don't believe that it has anything to due with covid. There are really no cons when I do it and it can motivate buyers who are interested in the home to get off the sidelines and submit an offer.