HOW TO WIN A BIDDING WAR IN A HOT MARKET

1. Get Your Financial House in Order and Get as Much Cash as You Can Carry

– Get pre-approved and/or bring as much cash to the table as possible.

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2. Come in Fast and Strong

– Be the first offer, but don’t be insulting.

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3. Escalation Clause

– This is an amount of money the buyer agrees to increase his/her offer, if there are other bids.

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4. Pre-inspection

– Ask to do a pre-inspection before submitting an offer.

 

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5. Show the Love

– If you love the house, then let the seller know that, either directly or through your real estate agent.

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6. Be Smart, Not Sappy

– Don’t overpay because you get all wrapped up in the heat of the competition.