Secrets To Winning The Bidding War And Your Dream Home

Posted by Jennifer Dollar on Wednesday, August 27th, 2014 at 12:25pm

make_offer_400There are secrets to winning house bidding wars that don't make it into most basic guidebooks.  These secrets are to be used in addition to the normal actions and tactics of bidding to give you an advantage in this arena.  Learn them and use them in your own house bidding negotiations knowing that they will help you get your dream home.

Appeal To Their Humanity

When you submit an offer, you can include a cover letter that details the connections that you feel you may have with the seller.  You can talk about how you want to raise your kids in the house or how your dog will love romping around the spacious backyard.  If you can make this type of connection during the house bidding process without trying too hard, then you might get your new house because of it.

Try Not To Offend

Always be aware that the seller's feelings are likely to be tied to the property, so don't say anything to offend them.  You can be honest, but be tactful.  Just don't insult the house or property when a completely factual, detached version of a statement about a home's shortcomings will do.  And don't list those shortcomings unless you absolutely have to.

Expect Negotiation

Negotiation is the name of the game when you are bidding on any new house, so expect to have some back and forth going on.  Don't take any response as a perceived slight, but as part of the process.  Maybe you will be able to reach an agreement, and maybe you won't; but expect that you will have to work to reach one every time you bid on a new house.

Make Reasonable Offers

When you know how much a house is worth and how much the seller is asking for it, then you know what a reasonable offer is.  Make sure that all of the offers that you make fall under the heading of reasonable, so that the seller doesn't feel like you are wasting their time.  Only serious offers are taken seriously in real estate negotiations.

Be Kind

This is a rule that applies to all of life but that especially applies to house bidding wars.  You want to remember to be kind no matter what you might be saying and no matter what the seller might be saying to you.  It is you and not just your offer that the seller is considering, so make yourself someone a seller would want to sell to.  If you do a good enough job, then you might even be someone a seller might want to lower their price for.

These are secrets to winning the bidding war so that you can buy your dream home.  The main concept to remember is that you are dealing with another human being with their own hopes, dreams, and concerns in the bidding process, so treat them as such.  Sellers appreciate when you extend the courtesy of showing consideration for them as you try to buy their house.

 

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