Negotiation 101 – How To Win A Bidding War When Buying A Home

Buying Real Estate
Check out how to win a bidding war when buying a home in Tampa Bay. By Tampa Realtor Lance Mohr of Keller Williams.
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This video covers how to buy a house with multiple offers. Following my tips will help you beat other home buyers out in a multiple bid scenario. If you are in a sellers’ market, it’s not surprising if you find yourself in a multiple offer situation. You need to know what you can do to give yourself an advantage over other buyers when it comes to multiple offers on a house. This won’t work with bank owned properties because they usually want the highest and best offer. In this video, we are talking more about traditional sales in real estate. There are four things you can do to crush the competition if you find yourself in a multiple bid situation. First off, your agent has to present the offer and keep that offer clean. Don’t overcomplicate the contract by clouding it up with several specific requests. Secondly, have your buyer write a clause in the contract to escalate the price. There are some states that do not allow this, but if you are able to do it in your state and the agent knows what they’re doing, this can be very effective for winning with multiple real estate offers. Thirdly, write a letter to the seller. Tell them a little about your family and why you like the home. Keep it short and sweet. This really makes your offer stand out and it can be incredibly effective. Lastly, if you are getting a loan, have your lender call the other agent. Having the lender make the first step by calling the listing agent will give them confidence in you as a buyer. Remember the seller and the listing realtor want to know if their buy is ready, willing, and able. As a home buyer, be sure to utilize these four tips because they will definitely help you with learning how to win a multiple offer situation.

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Lance Mohr
Mohr Realty Group at Keller Williams

Click here to find out how you can win a multiple offer situation when buying a house in real estate:

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