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How to Handle a Bidding War

Posted on June 26, 2014

meetingThere is no doubt about it, the decision to buy a home is perhaps one of the biggest financial decisions you will ever make. This is true whether this is your first home or your tenth. While the decision to buy real estate in Florida is one thing, the ability to find that home and sign on the dotted line is another.

Regardless of market condition, you should buy a home when it is best for you. That said, even if you are not ready to purchase, it is important to stay competitive for when the time comes. That is right, real estate’s competitive nature is not just on the seller side. Buyers need to be prepared for potential bidding wars.

So, what can a buyer do now for an advantage later? Simple things like flexibility and perseverance will be beneficial eventually, but perhaps the most important thing a you can do now revolves around the loan pre-approval process. This will come in handy when you are ready to make an offer. Also, try to search for homes that are priced lower than your maximum budget. This will provide the necessary wiggle room you may need in the event of a bidding war.

Are you ready to make a move? Our RE/MAX agents in Destin will be help you create the best strategy for a winning offer.

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