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Damn... that kind of sucks for the seller... So basically I can just go around to make a high offer, subject to financing, to bait the seller into accepting my high bid. String him around for a week or 2, and then claim I can't secure financing and walk out unscathed?
In a regular market, I might as well team up with 1 or 2 partners and use this to block out other potential high bidders, ruin the seller's listing by making it stale, and then swoop in with a lowball offer to seal the deal myself! There is like no protection of any kind for the seller!
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