Tag Archives: Real Estate bidding wars
The real estate market is hot. Inventory remains low, creating competition among the homes that are for sale. In fact, bidding wars are becoming the norm, not the exception. A recent article posted on CNBC reported that homebuyers are stretching their budgets and mortgage limits to win bidding wars. Bidding wars are not all about money, however. In other words, the highest bid doesn’t always win. Favorable bids have few to no contingencies, quick close times, and the reassurance of a loan approval. Sellers want to know that the sale will go through without any problems. For this reason, cash is attractive these days. Tips for Winning a Bidding War Those in the market for a new home can anticipate a bidding war. Susan Pinkston, a Mississippi real estate lawyer, shares practical tips to help you come out on top.
- Come with cash if you can
- Get pre-approved for a