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Today, we'll talk about 5 Ways To Get Your Offer Accepted in the Middle of a Housing Bidding War
Many rejected home buyers are finding lots of difficulties getting offers accepted by sellers.
In this market, when buying a home the question to ask is:
How do I get my offer accepted on a house where there is a lot of competition?
As 2022 started, inventory levels are at historic lows.
There isn't enough homes to sell to all the homebuyers ready, who are ready to buy.
As a real estate agent, where I represented many buyers over the last few years, I have to figure out a way to win against multiple offers and get a contract accepted for my clients.
This is the reason I came up with my top 5 ways to get an offer accepted in the middle of a bidding war.
#1 Include an Escalation Clause to Your Offer
An escalation clause is a provision inside a contract that allows the seller to escalate our offer above the highest sales price submitted.
The buyer’s contract price is automatically escalated to a maximum escalation point or the highest bid from other homebuyers. Whichever comes first
Example: An offer of $500,000 with an escalation clause to raise the offer up to $525,000. There is no need to amend the contract, and it is automatically put into effect, provided there is a higher offer.
If a competing offer was submitted for $520,000, the seller then has the ability of raising my offer to $525,000 and be the higher offer between both contracts.
#2 Removing The Appraisal Contingency
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