3 actions your agent can take to give you the best chance at winning

Bidding wars are back 😱 here are 3 actions your agent can suggest to give you the best chance at winning the property 🏡

Winning a bidding war requires a mix of strategy, speed, and presentation.

1. **Make a Competitive and Clean Offer**

- **Offer a strong price:** Go in with your best and most competitive price upfront, especially if homes in the area are selling above the asking price.

- **Limit contingencies:** Waive or reduce contingencies (e.g., inspection or appraisal) if you're comfortable with the risks.

- **Increase earnest money:** Show you're serious by offering a larger deposit.

2. **Leverage Personalized Tactics**

- **Write a buyer letter:** If allowed in your area, include a heartfelt letter to the seller explaining why the house is perfect for you. (This has worked in the past for some, but it can also back fire because a seller could use it to discriminate against you)

- **Flexible terms:** Offer a quick or flexible closing timeline that aligns with the seller’s needs (e.g., allowing them to stay temporarily).

3. **Use Escalation Clauses or Appraisal Gap Coverage**

- **Escalation clause:** State that you're willing to outbid other offers by a set amount, up to a maximum cap.

- **Appraisal gap coverage:** If the house appraises for less than the offer, commit to covering the difference up to a certain amount.

Having a proactive and communicative agent who builds rapport with the seller’s agent can also make your offer stand out. If they know your client really likes the house they might lean their favor towards you

For more questions just send me a DM or give me a call

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