What does Contract Race mean?

Contract Race, as it’s very naming suggests is a competitive “race” for ownership. Contract Race involves that a seller of a property accepts more than just one offer for it, but ultimately chooses the one which suits him best, usually the quickest pretender.

It is a situation which was typical for the 80’s when on the real estate market there was a very close battling for real estates. Given the current view of the main governing institutions upon the real estate market issues, it is very likely that such activities will discontinue.