Bidding wars happen often in today’s market. Currently there aren’t many homes for sale in Milton, and houses are going fast. Maybe you have experienced missing out on a home you thought was meant to be yours – Let’s ensure that doesn’t happen again!
Here are the Top 5 ways to Win at a Bidding War
1. Work with an experienced & attentive Mortgage Specialist.
An available, creative and thorough mortgage agent can make all the difference in getting your dream home, or being forced to sit on the bench and watch.
An excellent agent will be available to you via cell, text, email, any day of the week. Real estate doesn’t sleep and your group of professionals need to be there for you when you need them, not when they punch the clock.
We go into this prepared, prior to an offer they will have confirmed your income, obtained your credit reports and have gone over the numbers with you. They then will advise you what you qualify for and obstacles they see, and create a plan ( with back up plans ) to get you to home ownership effectively and effortlessly.
A great mortgage specialist, can tame even the wildest seas.
If you are looking for who WE think is the best, reach out. We will happily pass along the names of those we trust and know you will be thrilled to work with.
2. Have your deposit money available & include the draft with your offer.
Providing the seller with piece of mind is paramount, as the stress is high for them as well in these stations. When sellers have multiple offers, most buyers don’t realize that it isn’t all fun & games for them either. Sure, price and closing is usually of top importance for most sellers and then of course conditions. But you might be surprised to know that something as easy as including the deposit money with your offer gives sellers confidence in you as buyer. It shows that you have your finances in order, it shows you are serious and it is one more thing that makes the offer REAL for the seller.
If you unfortunately aren’t successful, you simply deposit the draft back into your account and do it again the next time. Most banks offer a certain number of drafts free of charge per year, so a few moments invested upfront can make you the owner of your new home, or back to searching for the next one.
3. Conduct a pre-offer inspection on the home
You want to know what you are buying and have piece of mind there are no issues that would prevent you from wanting to purchase the property. Conducting the inspection prior to the offer, allows you to remove that as a condition. Making your offer more attractive to the seller and also shows how serious and prepared you are. A couple hundred dollars invested upfront is a worthwhile investment to make that perfect space yours.
4. Do your market knowledge legwork with your agent so you know the values & what you are comfortable spending. (Before emotions come into effect)
So you’ve found the perfect house! Amazing, congrats! Now that little beast called FOMO creeps in and you start to wonder, what about what could be listed in the future and you fear missing out on something better…. if you are feeling this there are two likely contributors to this feeling.
1. You don’t truly love this house, so you are looking for a way out.
2. You’ve not been shown enough other homes and talked with your agent about what is available.
In markets where there is little inventory for months to view, your agent needs to send you the properties that were on the market earlier that year, so you can see them online, get a feel and see where they are selling at. This is an incredible way to make you feel comfortable and confident in moving forward without that FOMO.
5. Sell yourself. Write a letter, make a video, share with the owners why they want to pick YOU
So the seller has options. Having an excellent agent selling you is one thing, but including a photo and letter for the sellers to make an emotional connection to you is powerful. It happens all the time (even if the sellers don’t want to admit it). Why not take it a step further and add a quick selfie video about why you love the house and can’t wait to make it yours. Keep is short, sincere and from the heart.
Real estate is personal, make the connection and sometimes that is the difference, in winning the house over others that have given more desirable terms.
Bonus # 6. Work with an aggressive buyers agent ( Merit Real Estate Group ) We are available so you don't miss out on houses & creative in ways to ensure you have the leg up on the competition.
Having intimate knowledge of when properties are coming up with the local networking of active agents gives you the leg up.
The Market is heating up as there is so little to purchase & many hungry buyers.
Now is not the time to dilly dally.
You need to make time to see homes & FAST, even if they are holding offers!
Please note that not all agents will hold offers, even when they have on the listing that they are. There are rules and guidelines in place for notices to others with expressed interest but the only way to ensure you are not missing out is to get out there immediately and not wait.