Win a Property Bidding War
Let’s face it, Bend and Central Oregon for that matter is hot real estate market, people want to live here. With limited supply and more demand, bidding wars have become a common thing in our neighborhoods. So if a home is perfect to you, it’s most likely perfect to others too, but don’t let that phase you.
Here are some strategies we’ve found that help your chances to win a bidding war.
Have your pre-approval letter ready.
Make the highest offer.
Don’t ignore your budget, but remember that money talks when it comes to real estate.
Write a letter.
A personal touch can leave a lasting impression on the seller, which may make them more likely to sell to you.
If possible, pay in cash.
Paying for a home in cash will make your offer shine.
Forget the inspection.
This may make your offer stand out, but keep in mind that it could be risky.
Make yourself available.
Leave your information with the seller and encourage them to contact you or your real estate agents if they have questions. Respond quickly and regularly check in to stay on the seller’s radar.
Win the Bidding War
In the process of buying a home, use these tips to win a bidding war. But remember – since the market is so competitive, it’s just as possible to lose. If you don’t win, bow out gracefully and know that there will always be another chance.