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3 Tips for Winning a Bidding War
Manage episode 183646366 series 1414206
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Winning a bidding war isn’t as hard as you think when you’ve got strategies like these.
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Going to real estate school doesn’t teach you how to write a contract, as I’ve mentioned before. You need to hire an agent like you’d hire a lawyer, based on their track record of wins. This indicates that they can write quality offers. That’s one of the best tools an agent can have. Here are three things an agent can do with an offer to help you get the home of your dreams:
1. Remove all contingencies. Or, at least remove as many as you can. This includes financing contingencies, inspection contingencies, and home warranties.
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Remove as many contingencies as you can.
” 2. Write an escalation clause. This says that you’ll beat any other offer by X number of dollars up to a certain max price. It’s very complicated, but can work like a charm in the right situation.
3. Writing a full-price offer prior to the house’s first available showing date. This would be contingent upon you being able to preview the house within 24 hours. An agent is obligated to present every written offer to their client, and one like this would certainly catch their eye.
There you have it—my top three tips. If you have any questions about them or any questions about real estate in general, give me a call or send me an email. I look forward to hearing from you!
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