Three Ways to Win in a Bidding War!
First of Be Ready, Buyers who are pre-approved are a step ahead when it's time to make an offer. Having a pre-approval letter stating you're a qualified buyer shows sellers you're serious. Contacting a mortgage professional to start your pre-approval process early is strongly recommened, that way you're in the best position right from the start of your home search.
Secondly Present your Best Offer,
In an extremely competitive market, it's normal for sellers to pick a date and time to go over all offers on a house at one time. If this is the case, you may not have an opportunity to negotiate back and forth with the sellers. As a matter of fact, the National Association of Realtors (NAR) notes:
Not only are properties selling quickly, but they are also getting more offers. On average, REALTORS® reported nearly three offers per sold property in July 2020.
Make sure the offer you're presenting is the best one the sellers receive. A real estate professional can help you make sure your offer is a fair and highly competitive one.
We can't share all of our secrets or we would loose our advantage! But Melanis will share her personal experience with winning a bidding war!