5 Tips to Win That Bidding War with Financing

Here’s a look at strategies for homebuyers competing in a bidding war. 1. Line up financing in advance. Nowadays, you may be competing with all-cash buyers, so if you need to get a mortgage, having financing ready to go can help reassure sellers. "Preparation is key," says Gary Malin, president of Citi Habitats, a Manhattan real estate firm.

5 Tips to Winning a Home Bidding War Competition is tough in some housing markets, so you’ll need to have a strategy in place to stand out from the crowd and win a home bidding war. For starters, you must have your financing in order.

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The article also states: Among the directors, there are differing opinions on which bidder should win. The sources said. its competitors who started a bidding war. Right now, Fibria’s major.

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Here Are 15 Ways to win home bidding wars. prepare to offer more than they are asking. Make your offer a couple thousand more above the asking price. If it’s a very competitive area the house is listed for instance at $500,000, offer something precise like $527,000 instead of $525,000. "It makes a difference," she says.

But in the case of a bidding war, you’ll want to go in armed with a certified check or money order already in hand. Not only that, but your deposit amount should be pretty beefy. In Toronto, that amount is usually within the 2% to 5% mark, but in the case of a multiple offer situation, more is obviously better.

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1. Financing. Buyers who come in with an all-cash offer are still going to have an advantage in bidding war situations. But with more buyers in the market financing their purchases, the smart buyer needs to be pre-qualified for a loan long before the home search begins in earnest.