The Real Deal New York

Sellers backtrack on ‘best and final’ offers

Buyers get ‘gazumped’ as sellers ditch agreements at 11th hour
By Katherine Clarke | February 07, 2014 10:30AM

From the February issue: New York City is generally considered the big leagues of real estate, where buyers (and their brokers) need sharp elbows to secure a deal. Now the city is becoming even more cutthroat for apartment seekers, thanks to a shift in the way bidding wars are resolved, brokers told The Real Deal. [more]