How today’s buyers can strengthen their offers in bidding wars.
In this final video of our three-part series on how to compete in a bidding war, we’ll discuss the secondary offer terms. If you haven’t, I highly recommend you watch part one and part two of this series so that this information is more effective.
How does a buyer strengthen the terms of their offer when competing in a bidding war? There are two major factors to consider when breaking down the strength of a buyer’s offer: the price and the terms. There are many variables to account for in real estate transactions, including emotion, so you will never be able to predict everything. However, the goal in every bidding war is knowing you wouldn’t have risked any more than you did.
Feel free to watch the full message above or use these timestamps that will direct you to various points in the video:
0:00 — Introduction to today’s topic
0:30 — Two factors that affect the strength of your offer
1:05 — Secondary offer term #1: Closing date
2:45 — Secondary offer term #2: Information Verification Period
4:25 — Secondary offer term #3: Seller Disclosure Statement
5:35 — Why you should review Form 17
6:00 — What to expect with real estate
7:05 — Wrapping up
Overall, remember that real estate isn’t difficult, it’s complicated.
If you’re curious about what’s happening in the current marketplace, click here for my most recent Monthly Market Update Video. If you have questions about real estate in general, feel free to give me a call, send an email, or click this to schedule a 15-minute phone call with me. I’d love to help you.
