[5-DayForum] if the highest bid is not high enough

[Galina Grechka]

Bill,
When using 5-day method every seller wants to get fair market price for the home and in the same time knows the lowest acceptable price.
5-day seller truly believes that he (she) will sell home to highest bidder; otherwise he (she) wouldn’t start at the beginning. But what if it’s not the case? Maybe it would be more honest to tell each potential buyer that "This is a sale with a minimum undisclosed reserve" instead of "I will sell home to highest bidder". Would it affect the bidding strategy? Would it affect the highest bid?
 
Galina

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