When multiple buyers are interested in the same property, it doesn’t mean we have a bidding war on our hands. It simply means you need to put your best foot forward.
Our lead buyer specialist, David Williams, is here today to talk about bidding wars. In his eight years with us, David has helped more than 250 buyers purchase homes.
He recently heard from a client who said they weren’t interested in being part of a bidding war, and David chuckled to himself a little bit. Why? Well, because according to David, there are no such things as bidding wars.
There seems to be this urban legend going around that says buyers will be forced to pay a higher price than they are willing to and there’s some sort of great carnage happening. It’s simply not true. The bottom line is that if you’re interested in a house and the seller’s agent tells you that there are multiple offers, that just means there are several people interested in the house. That’s not uncommon.
“Putting your best foot forward is all you should be worrying about.”
All you have to worry about as a buyer in this situation is putting your best foot forward. Discuss with your agent about the best terms they can offer and the best price you’re willing to pay. You don’t have to go outside of your comfort level, you just have to put your best foot forward. It’s as easy as that.
Our team loves answering your questions. If you have any for us, don’t hesitate to send them to us. We would love to hear from you.