The Single Best Strategy For Winning A Bidding War

In a competitive market, home buyers have to make their offers as attractive as possible. Good homes are in high demand and homeowners will, most likely, have more than one offer to choose from. That means, you have to make a strong case, if you hope to have yours chosen. So what’s the most effective strategy for winning a bidding war in a hot market? Well, according to one recent analysis, the single most effective strategy is an all-cash offer. In fact, 41 percent of surveyed real-estate agents named it as the best route for buyers in a bidding war. But all-cash offers aren’t possible for most buyers, which is why a higher down payment, additional earnest money, escalation clauses, and submitting before the review date were also popular strategies with today’s home shoppers. There are, of course, other ways to make your offer stand out, such as waiving the inspection or financing. However, those come with significant risks, since they remove protections put in place to save buyers from costly consequences. (source)