5 Tips for Winning a Bidding War

By
Real Estate Agent with American Dream Realty- Broker Associate BRE#01420207

How to Give Your Offer an Edge

Looking to buy in a hot market? It's possible that you could end up in a 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 Ready -- Have everything you need in place. Get pre-approved for financing and set aside your down payment. 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 you on subsequent viewings of the home you are considering so a home inspection may be excluded from the conditions.

Be Flexible -- Let the sellers know that you are flexible about terms, such as move-in dates and inclusions. If possible, have your agent find out as much as possible about the seller's needs before making an offer so you can offer exactly what they want.

Introduce 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 and even artwork created by their children.

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.

If you are ready to start looking at homes contact me to get info on how to get pre-approved and for more information about each step in the home buying process. Santa Cruz County is a competitive market especially when it comes to lower priced homes. Working with someone qualified to assist is the best thing you can do to get your edge.

Posted by

John Flaniken - Sell Santa CruzJOHN FLANIKEN
American Dream Realty
Broker Associate

831-334-0890 Direct
831-464-0565 Fax
www.sellsantacruz.com

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Knowledge. Integrity. Experience.

Comments (3)

Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Real Estate LLC - Coast & Luxury

All good advice for buyers to stand out in today's hot market.  Be ready and be ylecible

Jun 22, 2015 09:01 AM
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Hey John first post I caught from you. Yes if you want to win you got to be flexible and you got to be ready to act!

Jun 22, 2015 09:03 AM
Nicholas Costantino
Engel & Völkers - Hoboken, NJ
CRS, ASP, e-Pro

Great tips John I always tell my clients that they need to be ready and flexible.

Jun 23, 2015 12:00 AM