Today, in the market, homes often move very quickly and have multiple offers at a time. Some homes, called “Pocket Listings,” sell before they even fully hit the real estate market. It can be an all-out war between competitors and some will go to any length to win. Keep reading for 2 helpful tips on how you can win the bidding war…
- Make your offer a sharp offer.
If the market is competitive and you really want the home, you need to let the seller know you’ll do whatever it takes to win it. In some cases, buyers will make what we call a “sharp” offer. In this situation, a potential buyer will match the highest and best offer, and raise that offer price by five percent — or sometimes even 10 percent.
- Offer to buy out the winning buyer.
In this scenario, the losing buyer offers to pay the winning buyer their earnest money deposit (sometimes up to three percent of the purchase price) plus any expenses, in return for letting them take over the purchase.
If you, or someone you know, is looking for a realtor please contact Mountain Oak Properties. We would love to be “Your Resource For All Things Real Estate.”
Contact us at info@mountainoakproperties.com or (828) 318-8801