BiddingWarIf your clients are buying a home in a hot housing market with frenzied bidding wars, you’re going to want them to stay competitive.

We know our outstanding RE/MAX real estate agents can help create strategies for submitting winning offers, but check out some of these other guidelines to share with your clients to help them stay competitive in a bidding war:

1. Get pre-approved
Having a pre-approval letter from a mortgage lender in hand helps you compete.

2. Establish the top of your budget
After determining the maximum amount you can pay, search for homes below that so you have flexibility to increase your offer.

3. Be ready to act fast
If instincts tell you to submit an offer, do it as soon as possible.

4. Stay as flexible as possible
Consider this especially when it comes to escrow periods and closing timelines.

5. Don’t give up
If your offer isn’t chosen, make sure you keep it as a standby offer in case the accepted offer falls through.

View details and entire article here