MINT HILL, NC – With homes for sale in Mint Hill and across the country becoming harder to find, bidding wars are rather common. Just about every home put on the market today will receive multiple offers. It’s common for a reasonably priced home to see incredible competition, in most markets today.
If you’re considering buying a home for sale in Mint Hill or the greater Charlotte area, you want to be prepared for a bidding war. Winning a bidding war before it even starts isn’t easy. Here are a few ways you can make a better offer and win that bidding war.
Offer the Right Price
There isn’t a magic number, but many winning bids are about 10% to 15% above the asking price, depending on the market. However, it’s also common that the winning bid isn’t the highest offer received. Price will certainly play a factor, but you might need more.
Start by offering a price the seller will have a hard time turning down. This can help put you at the top of the list when multiple offers come in. Of course, making an offer without a pre-approval won’t do much for your case.
Sellers don’t want to jump through hoops when they receive multiple offers. If you can waive contingencies in your offer, you will gain a significant advantage over other buyers. You might even consider waiving the appraisal contingency, if possible.
Figuring out what the seller wants the most is a big deal. If they want to close fast, waiving the right contingencies can make your offer more appealing. You can even have the home inspector and appraiser lined up before you make the offer to ensure you can close as fast as possible.
Find Homes Before They Hit the Market
If possible, have your agent find homes before they hit the market. You can post requests in neighborhood groups and look for people considering listing their homes. This is a great way to be the first one to see and make an offer on a home before it’s even on the market.
Of course, if you can pay cash, it gives you the best opportunity to win a bidding war before it starts. Even if you can’t pay cash in full, but can pay a sizable amount in cash, it can make your offer more attractive.
The market is very hot and favors the seller right now. As a buyer, you have to be creative if you want to win a bidding war before it starts. The right real estate agent will know how to make the best possible offer based on your local market and the needs of the seller.
I would love to be part of your journey when the time is right for you. If you ever have a real estate question or need, or know someone who does, trust that you can turn to me. I will help you make the right move! Anna Granger (704) 650-5707 | firstname.lastname@example.org | www.1stchoicepropertiesinc.com