How can I win a bidding war without paying too much for a home?

Your REALTOR® can help you determine the market value of any home by researching the selling prices for homes that have been on the market recently. Knowing the selling prices of homes you have viewed will also help you understand what you can get and what you can’t get for the amount of money you want to spend. Your REALTOR® can set up it up so that you will be notified when these homes sell, along with the selling price. This will empower you to be knowledgeable of the prices of homes in your interested areas and criteria allowing you to make an informed decision on the maximum price you would pay for a home rather than feeling any "pressure" to pay more than you are comfortable with or that a home should reasonably sell for.


For more helpful tips, please visit http://www.jeffstern.com/ and http://www.freewinnipeghomeinformation.com/, email: BloggerHelp@jeffstern.com or call 946-5333.

How do I know what to offer if I get involved in a bidding war?

Before you write an offer, you should get an idea of the market value of the home. Your REALTOR® can do some research for you. This will give you the selling prices of similar homes.


It is also important to know how many offers are being made for a particular home. A house that receives eight offers will sell for more than a house that receives two offers. Your REALTOR® will be able to inform you of recent comparable sales and current available homes.

In doing so, your REALTOR® will be able to give you a “ball park” figure of how much money is required to purchase a certain home. This figure will be based on the list price of the home itself, the condition of the home, the prices of comparable homes, and the number of offers received. It is then up to you, as a buyer to decide how you will offer.

This decision, although not an easy one, can be one that you make with the proper information so that you can be comfortable with the final selling price whether or not you are the successful buyer. This would result in no buyer remorse.

For more helpful tips, please visit http://www.jeffstern.com/ and http://www.freewinnipeghomeinformation.com/, email: BloggerHelp@jeffstern.com or call 946-5333.

How can I avoid a bidding war when buying a home?

There are a few strategies that will enable you to buy a home without getting into a bidding war. The simplest strategy is for a buyers’ REALTOR® to find out if there are other offers being presented for a particular home. If there are competing offers, the buyers who do not want to compete will simply look for a different home.
Typically the bidding war occurs on the first day homeowners are accepting offers. If the home doesn’t sell on that day, there is an opportunity to negotiate on a one to one basis. Some people who wish to avoid bidding wars only look at homes that are still on the market after the initial date set for viewing offers.

There are some types of homes that do not usually involve multiple offers and bidding wars. Your REALTOR® can identify these types of homes for you.

For helpful tips, please visit  JeffStern.com and FreeWinnipegHomeInfo.com or contact me at 204-946-5333 or BloggerHelp@jeffstern.com