A "bidding situation" refers to a scenario where multiple parties are competing by offering different prices or proposals to win a contract or acquire something. Full definition
As do the bloated advances driven by competitive bidding situations. (blackplasticglasses.com)
The multiple bid situations often meant buyers had to offer above the asking price to get the home they wanted. (realtormag.realtor.org)
In a competitive market or closed bid situation, a top - notch residential real estate agent who has done their homework is worth their weight in gold. (markersf.com)