How to Win a Real Estate Bidding War in North Carolina

 

Our desirable market forecast for 2024 is keeping us with an expectation that a lot of housing inventory will have multiple bids. So how do you expect to win or at least get the best chances for winning your frame home?

 

1) Having your preapproval or proof of funds prepared before going to look at homes in person. Your trusted financial source is also a great tool to gain comparisons to help with rate changes and your overall financial picture even more than just the home you're looking to purchase.

 

2) Understanding the bidding components and elements that are important of a North Carolina residential real estate contract. Due diligence and earnest money deposits need to be understood in comparison to how desirable the home is and the condition of the property. Knowing how going over ask can impact an appraisal and your financial picture within the contract.

 

3) Make sure your real estate agent is figuring out the most important terms to the seller. The seller may value time over all else. Sometimes just straight financial highest net amount. It can vary to see if you can align with what's desirable to that seller.

 

Need more information? Contact Michelle Hovey directly: 704-756-5887