A desirable home in a hot neighborhood can easily lead to multiple offers. Here's how to give yourself the best shot in a bidding war:
- Cash Offers: Cash is king. According to Redfin, cash offers are four times more likely to succeed. Just make sure you’re not draining critical savings.
- Get Pre-Approved: A mortgage pre-approval shows sellers you’re serious and ready to move fast.
- Offer Over Asking: Know your financial limit and decide what the monthly payment would be at that offer.
- Limit Contingencies: While risky, waiving contingencies (e.g. inspection, appraisal) can make your offer stronger—but talk to your agent first.
Navigating a bidding war takes preparation and professional advice. If you're considering buying, I can guide you every step of the way.
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