Tuesday, April 29, 2014 / by Nicole Solari
How to Win a Bidding War
All-cash sales comprised 33 percent of transactions in March, and with sellers reviewing multiple offers how can you stand out? Here are some quick tips to help you win in today's bidding battles.
Bidding Tips
Make an offer quickly, the first day the property is on the market is best.
Be open to programs like Docusign which can streamline the paperwork process.
Bid like you mean it! Lowball offers are of another era, lowball a seller today and you might get nothing in response but a laugh.
It's not all about the price. There is so much more to an offer than just the price - lots of terms, times, down payments, option monies, earnest money, favorite title companies, leasebacks, deposits, and so much more.
Realize you may have to bid over the asking price in certain areas.
A Competitve Market Analysis might not show you the whole picture. Basing your offer on homes that sold 6 months ago will get you nowhere ...
Bidding Tips
Make an offer quickly, the first day the property is on the market is best.
Be open to programs like Docusign which can streamline the paperwork process.
Bid like you mean it! Lowball offers are of another era, lowball a seller today and you might get nothing in response but a laugh.
It's not all about the price. There is so much more to an offer than just the price - lots of terms, times, down payments, option monies, earnest money, favorite title companies, leasebacks, deposits, and so much more.
Realize you may have to bid over the asking price in certain areas.
A Competitve Market Analysis might not show you the whole picture. Basing your offer on homes that sold 6 months ago will get you nowhere ...