Tips to Help You Win a Bidding War

How You Can Win a Bidding War

Looking for a new home may have seemed stressful enough, but hearing the words bidding war can make it even more daunting. Luckily, not all home sales end in a bidding war. What's even better is that a bidding war isn't as scary as it sounds. To help you have a great chance at winning your bidding war, use these tips.

Make a Great First Offer

A bidding war means you're not the only one interested in the home. This puts you in a tricky spot when it comes time to make an offer. You don't want to offer too little because the seller may only focus on the higher bids, but you also don't want to offer too much. To make a great first offer start by ensuring you're staying within your budget. Offer a competitive amount, and avoid making a lowball offer. Keep in mind that the amount your offer may not be the only thing the seller considers.

Cater to the Seller's Needs

In fact, many sellers will have a number of demands they need met. So, if you offer less than other interested buyers but are able to meet the majority of their demands, you can still have a great shot at the home. To learn what demands are musts for the seller, stay in contact with their listing agent and do your best to cater to them.

Don't Give Up

Even if another buyer ends up winning the bidding war, don't give up just yet. Some buyers may be submitting offers on a number of homes, meaning they may choose to purchase a different home. Keep in touch with the seller until the transaction has gone through and you're sure you're completely out of the running.

Purchase Title Insurance in Plainview, Texas

Once you find the right home and are ready to sign the closing paperwork, be sure title insurance in Plainview, TX is included in the deal. To learn why this is such an important factor, contact Countywide Title at (806)293-8363.