How to Win in a Bidding War

In today’s hot real estate market, it seems like a rarity to come across a home that doesn’t have multiple offers within hours of going on the market. As a buyer, you need all the help you can get, which is why we’ve put together a list of things you can do to help put the seller in your corner.

Here are 5 ways to get your offer signed:

1. Write a Letter to the Seller

Connecting with the seller on a personal level can really set you apart. Can you imagine your kids playing soccer in their backyard like they did? Mention that in your appeal to the seller’s soft side. Including a picture of your family helps a seller put a face to a name, making that extra special connection.

2. Guarantee Your Offer

Homes these days are selling for more than their appraised value because of the bidding wars. Providing a guarantee to the seller that you’ll pay them the under contract price even if the appraisal doesn’t come in at value can make your offer that much stronger.

3. Know Your Limits

Another contract clause you can provide to make your offer stronger is an escalation clause, which effectively means you’ll match or exceed any other offer by a fixed amount (example: $5,000 above any other offer). You can specify the maximum amount you will offer to keep you from going over your budget.

4. Sweeten the Deal for the Seller

TRELORA buyers have extra buying power because they get back the difference between the commission offered to the Buyer’s Agent and our flat fee of $2,500. That’s $5,900 on a $300,000 home. TRELORA buyers can give that credit to the Seller or Seller’s agent to make their offer $5,900 stronger than a competing offer with the same purchase price. Essentially, the Seller would net more cash with your offer.

5. Be Flexible on When You Take Possession

On occasion, a seller will need to stay in the home after the sale of the home final. Offering flexibility with that time can set you apart from the competition. The maximum number of days for a rent-back agreement is 60 days in Colorado, which means you won’t have to wait too long before moving into your new home and you could be helping the seller out.

TRELORA is Your Wingman

To help you compete in today’s hot market, your Buy Team is forging close relationships with local listing agents to help your home purchase go smoothly from start to finish. We help you save money and get you your dream home. TRELORA is real estate on your terms.

Contact us today to find out how much buying power you'll have when purchasing your next home with TRELORA.