5 Clever, Non-Cash Tactics for Winning a Bidding War
When your dream home is on the line, you’ll cough up any extra cash in order to win a bidding war. However, there are many other tactics you can use to win the war on your dream home other than piling on more money to your offer. Here are five clever, non-cash tactics you can use to win a bidding war on your next home.
Make the most of the meet-up.
It’s not always common that you will get to meet the seller, but if you get the chance to, you should make the most of this event by making a lasting impression. Whether that’s by simply letting the sellers know that you absolutely adore the home or you gift them with a bottle of wine or homemade pie when you meet, a personal touch just might be the key to sticking out among the other buyers.
Write an old-fashioned letter.
Just as special it is to receive an old-fashioned, handwritten note in the mail, it’s just as thoughtful to the sellers if they receive a handwritten note from a buyer. Your handwritten note might go into detail about how much you love the home and plan to grow vegetables with your kids in the backyard garden or how your family will love the fabulous neighborhood park. While you’re at it, you might even include a family photo with the note to tug at the heartstrings.
Use your connections.
Sometimes, all you need to do to win a bidding war is to use your connections. Did you happen to notice that the seller is a die-hard NFL football fan and you also happen to know someone who could get you a pair of hard-to-get tickets? Or perhaps you have another skill or connection to trade that could put your offer over the others.
Lend a helping hand.
While the buying process is stressful in itself, the selling and moving process is equally as stressful. Lend a helping hand to the seller to pay for all of their moving costs and you just might win the bidding war. Though this is technically money out of your pocket, this small gesture could pay off and get you your dream home.
Be flexible on closing time.
Being flexible on the closing time could be the very thing that makes your offer stand out in the bidding war. For instance, sometimes sellers do not have their next home ready and need to stay in the current home longer. By being flexible to extend the closing time, you’ll be in their good graces. On the flip side, they might need to get out of their house right away to start a new job and get to the new city and request a shorter closing time. Letting the sellers choose the sooner closing time could be the ticket to getting your home.