Win A Bidding War
Looking to buy in a hot market? Be prepared to participate in a competitive bidding war for the property you want. In addition to offering more than the asking price, here are a few tips to give your offer a competitive edge.
Be Prepared — Have everything you need in place. Contact your lender and get a pre qualification and be sure your down payment is liquid. If you have to sell a home, consider waiting until after your home sells before making any offers.
View and Inspect — Try to write an offer with as few conditions as possible. One strategy is to have a Home Inspector accompany at the property for a home inspection consultation. A consultation is not an official inspection but will give you the information you need prior to waiving a home inspection contingency.
Be Flexible — Let the sellers know that you are flexible about terms, such as move-in dates. As your buyer agent, I will find out as much information as possible regarding the seller’s needs before making an offer so you can offer exactly what they want.
Introduce Yourself and Your Family — Have your agent tell the sellers about your family and why you chose their home. Creative buyers have written personal letters to sellers, including photos of their family.
Show Them You Are Serious — Increase the earnest money to show the sellers you aren’t going to get cold feet after the bidding war is over. The last thing they want to do is put their home back on the market after a deal has fallen through.
For more detailed strategies on how to win a bidding war, schedule a home buyer consultation with me today! Call or email me directly: 617-512-4581 or [email protected]