Bidding War? How To Come Out On Top!

So you've found yourself falling in love with a house, and now you also find out another person loves it just as much as you do. What now? This is what we call a Bidding War! So how do you win to come out on top, with the home you have come to love?

Know Your Limits - It's one thing to find the right house. It can be another thing entirely to find the "Perfect House." Knowing the difference between the two can become cloudy, but that is what your firnedly REALTOR ® is here for! I am here to help guide and offer advice as to what the home may be worth, but you will ultimately have to decide if it is worth spending the exta money on!

Be Ready To Buy - Understand what the costs will be, and have your ducks in a row to be ready to negociate. If you are pre-approved for a cetain amount, but you know the home is going to sell for above asking price, then it is time to move on to the next house! But, if you have the necessary room in your budget, get ready to rumble!

Don't Insult The Seller - If a home goes on the market at a reasonable price, it's safe to assume others are looking as well. And they may also be ready to put in an offer. If this is the home you're looking for, sending a low-ball offer may cause the seller to throw out your offer entirely. You want to make a reasonable first offer, that way if the seller does not accept it, they will at least want to counter your offer back.

Write A Letter To The Owner - As cheesy as it may sound, you can always send the owner a personal letter explaining why you think you are the right buyer for their home. For some sellers you carry a deep, emotional attachment to their house, this may tip the scales in your favor to accept your final offer!

Of course, I recommend giving me a call to help find the perfect house, while making sure you don't over pay!

Source: https://www.houseopedia.com/how-to-win-a-bidding-war-on-a-house/