Other than fraud, another thing you need to survive at in the real estate business is the bidding war. Investments in a real estate are good only if you are wise enough. If you are planning to buy a property, you must be aiming to win in the bidding. But, do not count the chicks before they are hatched. For a start, know the techniques on how to win the bidding war.
Your offer should be good-to-go
Not all sellers are after with the highest bid. Some sellers appreciate more those buyers who are more than ready to buy your house other than the exact amount of money they have on hand. HGTV Canada relates that a pre-approved financing shows the seller that you are a serious buyer. Compared to conditional offers, having an approved financing is a cleaner offer. So, do not aim for the highest bid, aim for the cleanest offer.
Take note that in most cases, the highest bid wins
Let's face it! This is pure business and nothing lesser. Money can manipulate minds and unfortunately, can change decisions, too. Beating the other bids should be your top priority if you want a sure win as implied by OC Register. On the other hand, give the highest offer but be reasonable as well. If, fortunately, you won in the bidding war, ensure that everything would be a smooth flow when the deal has been closed. If you see some danger signs, do not hesitate to turn it down.
Get the right real estate agent
A good agent will help you seal the deal and all you have to do is to be transparent of your limitations to him. But, how will you know whether he's the right agent for you? Observe how he handles your budgeting. If he wants you to go beyond your budget, then, he's probably not the right one. Hire someone whom you can trust and has your best interest in mind as Scott McGillivray, author of Income Property articles suggests.
