n.
An aggressively high offer for a house, particularly one made before the official date that offers are to be accepted.
Example Citations:
This past week I was about to preview a condo in downtown Toronto with the understanding that all offers on this particular condo were to be presented the following Thursday. That was fine my client was comfortable with that particular situation. However on the drive to the condo I was informed that there was going to be a bully offer presented on it at 6:00pm. It was now 5:30pm. My client had yet to see the unit.
—" The Bully Offer: http://blog.mycondonetwork.com/2009/08/16/the-bully-offer/," MyCondoNetwork.com, August 16, 2009
Q: What if the seller asks for offers on a certain date? Can someone else put in an offer ahead of you?
A: Yes, this is known as a pre-emptive offer or "bully offer."
—Ellen Roseman, " Book aims to forearm buyers for bidding wars: http://www.thestar.com/article/692709," The Toronto Star, September 9, 2009
Earliest Citation:
Toronto's blazingly hot real estate market has brought out the bullies. In recent weeks, some prospective home buyers, sellers and agents say they have been blindsided by what they call the "bully offer" — a tactic some purchasers are using to circumvent the bidding war. No sooner is a house listed than the "bully" arrives with a certified cheque made out for an amount far above the asking price, hoping that the sellers will be so tempted by the eye-popping bid that they will accept it on the spot.
—Carolyn Leitch, "The bully moves in," The Globe and Mail, June 1, 2007
Related Words:
housefluffer
Categories:
New words. 2013.