How to Make a Strong Bid When Shopping for a Home

Making a BidYou’ve seen a house that meets your needs: it’s the right size, the right location, and it’s in good condition. You want to make a bid on the house so you can “win” it. After all, if you love it, chances are someone else loves and wants to own it, too.

To make a strong bid on a new home, there are several things to have in order. First, be pre-approved for a mortgage. Take the time to sit with a mortgage lender and discuss your financial situation. Having the pre-approval for a mortgage is like having a father approve of his daughter’s date. Home sellers want to know that the buyers they’re dealing with are serious about buying a home and have the financial wherewithal to do so.

Next, work with a professional agent instead of going it alone, on your own. An agent is typically adept at the negotiation process and also offers solid advice on what bid will satisfy the seller.

Don’t forget human nature– we all want to be loved, right? So if you’re putting a bid on a house, let the seller(s) know how much you love their place. Rather than point out its flaws and bid low, trying to get them to see that their asking price is too high, realize that they probably have a sentimental connection to the place and want to know it will go to someone else who will also cherish it.

Sellers also get worried about “the deal falling through,” whereas the buyer acts like they’re definitely interested but doesn’t come through with the check/payment. With that in mind, show you’re serious by hiring a home inspector to check the house before making the bid. Show the seller that the mortgage application is “all set.” Do your best to make the seller feel comfortable with you and your offer.

If you’re looking to bid on a home in Edmonton, call Alexis Hlady at 780-483-4848. She’s an agent with Realty Executives Challenge who can help you make a strong bid for the place you want!

 

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