what does offer due by xyz date mean?

[Gregory Herbert]

when looking at real estate websites, oftentimes I see "offers due by" some date

for example "offers due by may 12"

what does this deadline mean? I didn't realize I am back in high school?

so what happens if property doesn't get any offers by that date?

what happens if I submit my offer after the due date?

[Chris Seveney]

@Gregory Herbert

Truly market dependent

Some sellers will List a home below market value with offers due by a date to spur excitement

The whole fear of missing out which is absolutely true in the real world and in life.

In some cases we had 3-4 offers and some say they were going to make an offer so we would also put a deadline on it