Cory Thompson

Mid America Mortgage, Inc.

  • Home
  • About
    • About Cory
    • Accessibility Statement
  • Blog
  • Mortgage Info
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
  • Zillow Reviews
  • Pre-Qualify
  • Contact

Cory Thompson December 1, 2017

Win the Bidding War With Our 5 Minute Guide to Making an Offer the Seller Won’t Refuse

Win the Bidding War With Our 5 Minute Guide to Making an Offer the Seller Won't RefuseAsk any experienced homeowner and you’ll learn that buying in a ‘hot’ real estate market can be challenging. A high supply of buyers competing for a low stock of available homes is a combination that can lead to bidding wars, price inflation, and other headaches. The good news: with some careful preparation and the right mindset, a bidding war is one that you can win. Read on to learn how you can beat out other bidders by making an irresistible offer.

Start With Strong Representation

Answer this question honestly: are you an experienced negotiator? Unless you have made a career out of buying and selling homes, you may find that your skills are lacking. The middle of a bidding war is a poor time to have this realization, so it’s best to start the process with strong professional representation. Invest the time in securing the services of an experienced real estate agent who has a history of successful home purchases and happy clients. We can recommend an excellent resource for you.

Get Pre-Approved For Your Mortgage Financing

Now that you have a good real estate agent on your side, you’ll want to move to the next step: meeting with a mortgage lender. Your goal is to secure pre-approval for your mortgage financing, which will show the seller that you’re both prepared and serious about buying their home. Gather up recent financial information like pay stubs, tax returns, and bank statements before meeting with a mortgage professional. Being prepared will make the approval process a bit easier.

Have The Appraisal And Inspection Team Ready

Once you have found your dream home, you will need to move quickly to have it appraised and inspected. As with your other professionals, it’s best to pre-book these companies ahead of time so they’re ready to go. Ask your friends and family for referrals now so you can chat with potential appraisers and inspectors.

Be Serious About A Quick Closing Process

Finally, if it isn’t already obvious to them, make it clear to the seller that you’re interested in closing quickly. Every home seller is interested in a fast, efficient close so they can move on. Pushing the pace a bit will demonstrate that you’re not going to reverse course.

When you are ready to buy your dream home, our professional mortgage team is here to help. Contact us today.

Filed Under: Home Buyer Tips Tagged With: Buying A Home, Home Buyer Tips, Real Estate Tips

Cory Thompson

CONTACT INFO


Mobile 832.347.1855

Office 281.218.0505

NMLS ID 225056
Legend Home Lending

Connect with Me

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Recent Posts

  • A Quick Look at Reverse Mortgages: The Golden Ticket to Enjoying Your Golden Years
  • Understanding Mortgage Amortizations and Why Longer Periods Can Cost More
  • What Does Contingent Mean on a House Sale
  • What’s Ahead For Mortgage Rates This Week – September 25, 2023
Equal housing
| © 2017 Legend Lending Corporation NMLS 229421 | Texas Recovery Fund Notice

Archives

Our Location

Legend Home Lending
17047 El Camino Real Ste 150
Houston, TX 77058

Return to top of page

Copyright © 2023 Cory Thompson. All rights reserved.   Log In