Tips for Getting the Winning Bid

The first step to a winning bid is to offer a bottom line price in a multiple offer. However, there is no guarantee as every situation is different.

Here are some of the tips:

Highest and best price offer

* In a multiple offer, you will need to always start low and negotiate higher.
* Ensure you have made your best bid if you win but a range you can afford and make a bid in a range you won’t regret if you loose.
* The winning bid will go over the list price most of the time.

Closing Fees

* A seller should make their offer stands out from others by excluding the closing fees.

Higher than minimum earnest money

* Earnest money is known as the down payment and a buyer will only loose it when they back out from closing once inspection and financing contingencies have met.
* To show yourself a serious buyer, it is advisable to submit higher than the minimum required.

Keep the offer clean

* Avoid adding miscellaneous items into your purchase agreement.
* It will give a positive impact if buyers don’t include inspection contingency when dealing with sellers but not the banks.
* Foreclosure normally requires inspection period however, in certain situation you may skip it.

Propose a suitable closing date

* If the property is vacant, select a quick closing date. If bank is involved, allow at least one to two weeks.
* If the property is occupied, then allow more time but if the owner bought a new house on the same day they sold the old house, then they will not be able to move until after the closing date.
* Keeping a flexible closing date offer can be positive.

Use a reputable lender

* If you are referring to a broker, use one that has direct endorsement doing own in-house underwriting and have an appraisal pool
* Do hesitate to accept the offer if you never heard before about the company or previously had issues with them.

Make personal connection

* For a foreclosure situation, banks are concern with the bottom line but might look favorably on buyer planning to live in the property than an investor.
* Dealing with estate or family house, it is emotionally attach which require you to state your reasons on being deserve to own it.

Make a complete offer

* Ensure all documents are signed in the correct place and all forms are including the remarks and supplements are in order.
* This helps to sets smooth transaction or can be a deciding factor.


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