How To Win A Bidding War
Ready for a war? Well, just a house bidding war...
You have decided to buy a home--awesome! And then when you find a home you love you find out you are in a bidding war against 25 other offers--ouch!
Check out this video where I go over the 4 ways to win a bidding war on a house.
When it is your time for bidding for a house, it is important to know the 4 ways to win a bidding war as outlined in the video.
#1-You need the right Realtor. Sounds simple, right? It isn't. Having the right Realtor will make the world of difference for you when bidding for a house. How experienced are they? Do they know other Realtors? Have they closed other deals? Do they know how to properly structure an offer? The list goes on and on!
#2-Trust the process and believe. Whether it takes 1 offer to get accepted or 25, trust the process and believe. It might get stressful but if you stick with it, you will end up with a positive result. Trust me. When you go to bidding a house, you have to believe that things will work out. Things might still work out with a negative mindset, but why chance it?
#3-Get prequalified! So important to be prequalified and have all your financing ducks lined up initially. Without it, it is very likely the seller will not even look at your offer when you are bidding for houses.
Bidding on a house tips #4-Be aggressive with your offer upfront. Thinking you will get a counter or have a chance to counter could be disastrous. If a home is listed at 400k and you are ok paying 450k, don't offer 400k upfront and expect a chance to counter. Offer what you need to first while you are bidding for a house and give yourself a chance.
These are 4 tips for bidding for a house. There will be times where you will do all 4 and still not win the bidding on a house. Give it time and believe in the process and trust it while you are bidding for a house. Things will work out.