Definition of "Bid and asked"

Candice Williams real estate agent
Candice Williams, Real Estate Agent Watson Realty Corp.

Term used in the real estate industry describing the price requested by a property owner vs. the price a buyer is willing to pay. Bid is the highest price a purchaser is willing to pay while asked is the lowest price a seller is willing to accept. Together, the two prices constitute a quotation in a real estate listing.

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