Tips to Get Your Offer Accepted in a Bidding War

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bidding war, Buying a home, homes for sale in Jacksonville FL, Jacksonville FL Real Estate, Jacksonville Real Estate, multiple offers, real estate, real estate advice, real estate information, Real Estate Team, real estate tips, The best real estate agent in Jacksonville

In today’s competitive market, it’s not unusual for a home to get multiple offers. So, if you’re planning on buying a home, it’s important to understand how to navigate bidding wars.

So, what, exactly, do you need to know when you’re ready to make an offer on the house, but you’re not the only buyer that wants to call the home their own?

A recent article from realtor.com outlined key insights buyers need to know when they find themselves up against a bidding war, including:

• Make your first offer your best offer. When a home has multiple offers on the table, you generally only have one shot to grab the seller’s attention—so make sure that your first offer is your best offer. That means to make an offer at the upper limit of what you’re willing to pay and to include anything else you’re willing to make your offer more competitive (for example, waiving a contingency).
• Write a personal letter. When you’re up against multiple other offers, a heartfelt letter to the sellers about why you want to buy their home could help your offer stand out—and, if the rest of your offer is competitive, could give you the extra help you need to win the bidding war.However, these have been coming under scrutiny in many areas recently, so make sure they are still acceptable in your area before writing and submitting one. Make sure to have your agent guide you in what you can and can’t say in your letter if you are writing one to include with your offer.
• Know that the seller is in the driver’s seat. When you really want a home, it can be tempting to try to force or control the situation. But the truth is, in the case of a bidding war, it’s important to recognize that the sellers are in the driver’s seat—and accepting that all you can do is make your best offer and hope for the best can make the process less stressful.

The Hanley Home Team has several other tips to share with you! Let’s WIN – get in touch today.

Kevin and Jennifer Hanley, REALTOR, SRES. Luxury

OVER 1000 HOMES SOLD!
The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

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Nearly Half of Buyers Cite Bidding Wars as Biggest Hurdle on the Path to Homeownership

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bidding war, home ownership, homes for sale in Jacksonville FL, homes in Jacksonville, real estate, real estate advice, real estate consultant, real estate information, real estate jacksonville fl, Real Estate Team, real estate tips, sell your home, sellers market

Thanks to historically low inventory and rising prices, today’s real estate market has been challenging for many buyers. But what, exactly, are the biggest challenges facing buyers today?

According to recent data from the National Association of Home Builders, nearly half of buyers in Q1 2021 (45 percent) cited continually losing out on bidding wars as the reason they haven’t been able to successfully purchase a home. (Not being able to find an affordable home was the second most cited reason, with 32 percent of buyers being unable to find a home in their price range.)

The Takeaway:

So, what does that mean for you? If you’ve been thinking about buying a home, it’s important to understand the challenges of the current market; that way, you can better prepare yourself for bidding wars—and be prepared to make offers that grab the attention of a seller and increase your chances of getting that offer accepted. We have worked in this type of market in the past and are experienced in helping our customers WIN the home they want and deserve! Give us a call…Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com