What Happens In A Bidding War On A House?

What Happens In A Bidding War On A House?

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If you’ve been shopping for a home, then you probably already know what results in the bidding war, which is that there are several offers on this one property and the seller has decided to call for highest and best so that they can get the best price and terms for their home.

I think it’s important for us to reflect on what’s really causing the bidding war. When you consider that the average buyer is looking for a home that is priced right, in a desirable area and completely updated inside and out. And if you’ve been shopping, you know that that’s going to be rare find, right.

You may have two of the options or only one. So when you have all three, a lot of buyers are attracted to that home and are willing to get that home and that’s what causes the bidding war. So if you have any questions, leave a comment below. And as always, close with Patrice.

This is important to know for almost any real estate market that you’re in. For past few years, the home doesn’t need to meet all 3 of these criteria but in a buyer’s market they will likely need to meet all these criteria.

This has been “What Happens In A Bidding War On A House” by Patrice Henderson Be sure to subscribe to her YouTube channel for all your real estate tips, home tours and advice. Get your FREE listing consultation or home evaluation to find out if your home is a home that is meant to create a bidding war. Also, if you’re a home buyer and want to work with a realtor that will help you win a bidding war on a home, schedule your FREE buyer’s consultation here.