It’s hard in this market, but these tips should help.
Hello, it’s a beautiful day to talk about real estate.
One thing I wanted to talk about today was how to win in
a bidding war. If you are a buyer out there, and you’re looking
at property, and you’re making offers on things, and you’re
not winning the bid, here are few suggestions to hopefully
help you get that house.
Make sure that you have your pre-qualification letter ready so
that when you want to make an offer you have your letter
ready to submit.
You should definitely put in your best offer first. Think about it,
you want to make an offer on a house, if multiple people go in
over asking price, usually the seller just accepts the best offer
at that point, so put in your best offer. Don’t expect them to come
back and counter your offer.
The best thing is to make sure you act fast. You have to make a
quick decision. If you like the house, you need to be ready to make
the offer right away, so be ready to act on it.
The fewer contingencies you have on your offer the better it will be.
If you have to ask for closing cost because it’s financially what you
need to do, then you ask for closing cost, but you may not want to
put in that you want them to leave the lawn mower, you want them
to take the paint out of the basement, you want them to leave a
ladder, and some of the other things that you could put in there
for contingencies. So try to keep those contingencies to a minimum
to give you the best opportunity to win that bid.
I hope this helps. If you have any questions feel free to reach out to us
anytime. We love to talk about real estate!
Make it a beautiful day.