How to win a bidding war in a seller’s market. It can be frustrating and sometimes you need to lose a few to really understand what you need to do to make your dream of home ownership a reality!
- Keep it simple
- Offer strong – so you have no regrets when you find out the winning number
- Get pre-approved – so the seller has confidence in your offer
- Increase your deposit – your deposit can be considered as “skin in the game”, so it should be an amount that you wouldn’t walk away from.
- Let the seller pick the closing date
- Keep the inspection requests strictly to structural or hazardous conditions
- Soften the appraisal contingency
These are ideas to help your offer stand out; you need to make sure you are solidly qualified and you need to feel comfortable with your offer – don’t stretch unless you are really committed to the purchase.
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