Racheli Mortgage Lending

Mortgage Lending - (954) 800-0330

  • Home
  • About
    • About Racheli
    • Privacy Policy
    • Blog
  • Mortgage Info
    • Get Pre-Approved
    • Home Search | SOLD Home Alerts
    • How to Buy a Home | The Loan Process and Checklist
    • Credit–What Makes your Credit Score Ebook
    • Mortgages for Self-Employed
    • Mortgages After a Divorce
    • Mortgage Calculators
    • More Calculators
    • How to Buy A Home | Down Payment Assistant
    • Buyer Info
    • How to Buy a Home – Loan Process
    • First Time Home Buyer
    • Mortgage FAQ
    • Mortgage Glossary
    • Loan Programs
    • Credit–What Makes your Credit Score Ebook
    • Seller Info
    • Closing Costs
    • Home Appraisal
    • Fixed Rate Mortgage
  • Real Estate Info
    • Fort Lauderdale Real Estate
    • Boca Raton
    • Miami
    • How to Buy a Home | The Loan Process and Checklist
    • Home Inspection
    • Real Estate News
  • FREE Reports
    • Get Your FREE Reports!
    • 5 Big Mistakes Buyers Make
  • Testimonials
  • Contact
    • Contact
    • Ask Racheli
    • About Racheli
    • About-Contact Us
    • Racheli’s List

Racheli Refael October 21, 2015

Locked in a Bidding War? 3 Tactics That Will Ensure That You Reign Supreme with a Winning Bid

Locked in a Bidding War? 3 Tactics That Will Ensure That You Reign Supreme with a Winning BidBidding wars can be ugly, nasty things – but with the right tactics, you can come out a winner without having to double your offer. Welcome to basic training – today, you’ll learn how to navigate the obstacle course that is a real estate bidding war and come out on top. Put these three strategies to use and you’ll easily win the home of your dreams.

Offer To Pay The Deposit In Cash

It’s not usually wise to make a down payment in cash, but paying cash for the deposit is a brilliant strategy that will put you first in line for your new house. One major reason why homes don’t sell is because the buyer didn’t get approved for financing – and that inconveniences the seller. Paying your deposit it cash proves your reliability to the seller, and it means the seller gets paid faster.

Add A Personal Touch With A Letter

Want to get a completely unfair advantage over other buyers in your neighborhood? Make your offer personal by writing the sellers a heartfelt letter. Marketing professionals know that emotional experiences are highly persuasive, and a personalized hand-written letter shows that you care.

For maximum effect, do a quick Google search on the sellers and look for common threads. Do the sellers have a child in college? Talk to them about your college-aged son or daughter and what program they’re taking – it may sound cliché, but a little bit of bonding really does go a long way.

“Escalate” The Situation With An Escalation Clause

When most buyers write up their formal offer, they simply name a price and that’s it. But you can set yourself apart from other potential buyers by including an escalation clause in your offer.

An escalation clause is a piece of a real estate contract that increases your offer in the event that you get outbid. An escalation clause usually lists your original offer, the amount by which you’re willing to beat other bids if you get outbid, and the maximum amount you’re willing to offer in the event that there are multiple offers. Escalation clauses are usually best used when you know that there will be a one-day review of all offers or when you’re anticipating multiple offers – otherwise it may compromise later negotiations.

Bidding wars aren’t ideal, but they are a reality of the real estate market – especially in competitive areas where it’s the norm to see multiple offers on a house. But with these tactics, you can outgun competing bidders and come out with the house you’ve always wanted. Contact your real estate agent and or your Trusted Mortgage Professional to learn more about navigating a bidding war and making a winning offer.

Spread the Love

Filed Under: Home Buyer Tips Tagged With: Buying a Home, Home Buyer Tips, Negotations

Equal Housing Lender
Company NMLS #189233

Previous Posts

Categories

Recent Posts

Get Pre-Approved Today for a new Home Mortgage with Racheli

7 Inexpensive Upgrades You Can Make To Your Rental Property

What’s Ahead For Mortgage Rates This Week – April 19, 2021

NAHB: Home Builder Confidence Ticks Up in April

It’s Almost Spring Cleaning Time! Kick Clutter To The Curb With These Home Cleaning Tips

3 Easy Ways to Put Aside a Bit of Extra Cash So You Can Pay off Your Mortgage Faster

How Much Home

Connect With Racheli

  • Facebook
  • LinkedIn
  • Twitter
Refer a FriendUse the quick and easy tool below to Refer a Friend today. We sincerely hope you will tell your friends, family, neighbors, and co-workers about our services. You'll be doing them (and us) a favor as they too will receive the same excellent service that you have experienced.

If you know someone who is thinking of buying or selling a home, please fill out the form below, or contact us directly using the number listed at the top of the page.

Click here to refer your friend!
Download Mortgage App

RSS The Latest Real Estate & Lending News

  • 82,338 Great Reasons to Buy a Home Today
  • How Much Time Do You Need To Save for a Down Payment?
  • Home Is Where the Heart Is [INFOGRAPHIC]
  • Why This Is a Great Year to Sell Your Vacation Home
  • 93% of Americans Believe a Home Is a Better Investment Than Stocks

Calculate Mortgage Payments

www.mlcalc.com
April 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« Mar    
Equal Housing Lender

Archives

Categories

  • Accessibility Statement
  • Privacy Policy

Loans 4 U - Fairway Independent Mortgage Corporation
200 S Andrews Avenue Suite 500
Fort Lauderdale, FL 33301

Return to top of page

Copyright © 2021 Racheli Mortgage Lending. All rights reserved.   Log In