Bid vs Offer-  Myers Jackson Explains the Difference

What’s the difference? In short, there isn’t one! The words are used pretty interchangeably. When a purchaser makes an offer, it’s also considered as a bid. With auctions, people tend to be hesitant with the word bid. However, in the grand scheme of things – with bid vs offer it’s all the same! Often times, the word bid is associated with auctions. However, we’re seeing the words be used interchangeably more and more!

The Differences Explained

Traditionally, you’ll hear the term offer used in a conventional real estate sale. Bid is often use in the auctioning space. However, as stated above the terms are interchangeable and extremely similar! When you place an offer on a property, you are essentially placing a bid. And vice versa. At any point the seller can choose to accept or decline your offer, much like in an auction setting. With that being said, don’t let the two terms deter you from your dream property!

Offer Vs Bid Video Explanation

For a more in depth answer and bigger conversation, check out the video below where I explain the difference in bid and offer!

Making the Move

Now that you’re more educated on the difference, do you feel ready to make the move on that property you’ve been eyeing? If the answer is yes- check out some of our online auctions HERE. If the answer is no, stay tuned! We’ll be sharing  even more helpful tips and tricks to make the buying process easier to digest!