How to win a real estate bidding war in today’s home buying market is a fine art. From Los Angeles to San Francisco to Boston offering a home’s asking price is just the starting point in negotiations.
In Long Beach, California, Breanna LePante of Nook Real Estate recently got her client’s offer for a 1,000 square foot condominium to stand out from 21 competing offers. How did she do it? I always have my buyers write a nice letter to the seller telling them how much they want the house. I continually communicate with the listing agent. I also make sure my buyers have pre-loan approval with proof of funds. LePante confides. Her buyer got the property for $375,000 against an asking price of $349,000.
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