Keep Calm . . . It's Just Real Estate: Your No-Stress Guide to Buying a Home by Egypt Sherrod

Author:Egypt Sherrod [Sherrod, Egypt]
Language: eng
Format: epub
ISBN: 9780762457564
Publisher: Running Press
Published: 2015-03-10T00:00:00+00:00

HOW TO WIN THE BATTLE IN A BIDDING WAR: FIVE TIPS TO HELP YOU SUCCEED

Even if another buyer has made an offer on the house you want, keep calm. This does not mean that you are out of the running. While a multiple-offer situation may put the seller in a more powerful position than the potential buyers, it doesn’t mean you need to panic. What it does mean is that there’s a possibility you may have to pay more for that particular home than you anticipated. You will also have to be more flexible than some of the other buyers to put yourself in the most favorable position with the seller.

If this is the house of your dreams, aren’t you willing to fight for it? Don’t dwell on the fact that you could have made an offer sooner. Let the bidding war begin, my friends! Your sword is your trusty pen!

While offering the most money might seem like the best way to win a bidding war, sellers don’t always choose the highest offer. Instead, sellers often prefer offers that are most likely to go through and that meet their conditions. For instance, if your lease is expiring in the next sixty days and you’re in a rush to get to the closing table, but the seller wants ninety days to move because they haven’t yet found the new home they plan to purchase and move into, the seller may be inclined to take a slightly lower offer from a more flexible buyer rather than the higher bid you put in.

Keep your eyes on the prize. Stay focused, and don’t give up the fight. To help arm you with the leverage you need to be victorious in this battle, I’m going to give you five ways to succeed at a bidding war to buy the house you truly want.

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