How to win the bidding war for your dream home

If the affordability index and low interest rates discussed in our earlier post have encouraged you to start looking for the perfect home, here’s what you need to do to win that bidding war:

  1. Pre-Qualify.  And have that pre-qualified letter in hand.  Seem obvious?  The fact is only 52% of those looking obtain a letter, therefore doing so will give you an advantage

  2. Give your best offer.  The seller may review all offers at one time so there might not be a chance to negotiate.  With the guidance of a real estate professional, they can help you put together a winning bid.

  3. Act fast!  Inventory is limited and interest rates are low.  If you find a house you love, don’t delay!  Your dream home today could be gone tomorrow.

Following these three simple but important steps will greatly increase your chance of winning the bidding war, which has become more common in a market with dwindling inventory.

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