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How To Win A Bidding War
It happened, you found your perfect house. Congratulations, you’re one step closer to homeownership! You reach out to the listing agent, only to find out that someone else wants the house too. Now you are faced with a bidding war (wait… what?). Before you start to panic, we’re here to explain how to come out on top!
       Don’t bid more than you can afford Talk to your lender first before you decide how much money you are going to bid. Ideally, you should talk to us before you even start your house search. We will be able to tell you how much you can afford and what type of loan you will be approved for.
Never bid more than you have been approved for! In fact, you should always opt on the lower side. If you bid more than you can actually afford, you could lose the house entirely. Even if you win at the higher amount, it will put you in debt before you even move in. This could lead to late mortgage payments and eventually foreclosure.
That being said, submit your best and final offer early. You don’t want to lose the house because the other buyers bid at a ... more

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