{"id":8167,"date":"2021-09-07T06:54:00","date_gmt":"2021-09-07T13:54:00","guid":{"rendered":"https:\/\/www.flyhomes.com\/blog\/?p=8167"},"modified":"2021-09-03T15:55:14","modified_gmt":"2021-09-03T22:55:14","slug":"top-3-proven-ways-to-win-a-bidding-war-in-2021","status":"publish","type":"post","link":"https:\/\/flyhomes.com\/blog\/top-3-proven-ways-to-win-a-bidding-war-in-2021\/","title":{"rendered":"Top 3 proven ways to win a bidding war in 2021"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Tips to compete in a tough real estate market<\/h2>\n\n\n\n<p>The disappointment of losing out on a home you love is something no one should have to deal with, yet most buyers will run into this situation in today\u2019s market. <\/p>\n\n\n\n<p>Agent Arjun Nair from the Brokerage Product team at\u00a0Flyhomes\u00a0has studied the details of thousands of winning offers. In 2020, 53% of Flyhomes buyers who won bidding wars won despite not having the highest bid.<\/p>\n\n\n\n<p>How did they do it? <\/p>\n\n\n\n<p><strong>\u201cCertainty is the best thing you can give a seller,\u201d <\/strong>Nair says. \u201cOur buyers win because we focus on eliminating doubt that the deal will go through. We see time and time again that certainty can be more important than a little more money. Many sellers will give up thousands of dollars when they know that their buyer will be able to close quickly and smoothly.\u201d<\/p>\n\n\n\n<p>What are the best tactics to give the seller confidence to accept their offer? Here are the top three strategies agents are using right now to win deals for their clients.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>1. Provide financial certainty.<\/strong><\/h2>\n\n\n\n<p>\u201cPre-approval isn\u2019t enough,\u201d Nair says. \u201cGet <strong><a href=\"https:\/\/www.flyhomes.com\/blog\/the-thing-most-house-hunters-dont-do-but-really-should\/\" target=\"_blank\" rel=\"noreferrer noopener\">u<\/a><\/strong><a href=\"https:\/\/www.flyhomes.com\/blog\/the-thing-most-house-hunters-dont-do-but-really-should\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>nderwritten<\/strong><\/a> as a first step so you have no doubt about what loan program and the amount you\u2019re going to qualify for. Then, you can pass that certainty on to the seller.\u201d<\/p>\n\n\n\n<p>While underwriting is a more intensive process than pre-approval, it\u2019s empowering to do it early on rather than waiting to underwrite the buyer and property at once. When you shop for a home with an underwriter\u2019s input into their loan qualification, you shop with total confidence in your budget.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>2. Make a cash offer backed by a short-term loan.<\/strong><\/h2>\n\n\n\n<p>\u201cYou don\u2019t need liquid cash to make a cash offer,\u201d Nair says. \u201c<strong><a href=\"https:\/\/www.flyhomes.com\/buy\" target=\"_blank\" rel=\"noreferrer noopener\">Flyhomes Cash Offer<\/a><\/strong> provides a short-term loan that acts as a cash equivalent, closing in as few as eight to ten days. When buyers show up fully funded, sellers have no reason to say no.\u201d<\/p>\n\n\n\n<p>A cash offer\u00a0allows you to avoid<strong> <a href=\"https:\/\/www.flyhomes.com\/blog\/what-is-a-real-estate-contingency-short-answer-its-kryptonite\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">financing and appraisal contingencies<\/a><\/strong>, giving the seller even less to worry about. It gives you some welcome room to breathe, too. Once you buy your new home with a short-term loan, you have time to shop around for the best rate to finalize your long-term mortgage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>3. Guarantee your purchase.<\/strong><\/h2>\n\n\n\n<p>\u201cSellers fear having their deal fall through. If you can guarantee that won\u2019t happen, you\u2019ll have even better chances than with a cash offer alone,\u201d says Nair. \u201cIt\u2019s how to beat a cash offer from another buyer.<strong> <a href=\"https:\/\/www.flyhomes.com\/guarantee\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Flyhomes offers a guarantee<\/a><\/strong> that we will buy the home in the rare instance that something happens that makes you back out. There\u2019s literally no risk to the seller.\u201d<\/p>\n\n\n\n<p>When you&#8217;re already underwritten and able to make a cash-equivalent offer, very few circumstances will prevent you from following through. A guarantee covers those rare instances where something unpredictable happens at the last minute, so the seller still gets to move on.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Takeaway<\/h2>\n\n\n\n<p>In 2021, there\u2019s no reason for qualified buyers to struggle to prove themselves or to feel forced to raise their budgets because the next buyer is willing to pay more. These three strategies help buyers get homes they love with less stress so they can focus on what really matters: moving in and enjoying their new home.<\/p>\n\n\n\n\n\n\n<p><\/p>\n<input type=\"hidden\" id=\"calendly_utm_post_id\" value=\"8167\" \/><input type=\"hidden\" id=\"calendly_utm_post_title\" value=\"Top 3 proven ways to win a bidding war in 2021\" \/>","protected":false},"excerpt":{"rendered":"<p>These three tips will help you avoid losing out on your next home offer. <\/p>\n","protected":false},"author":148668397,"featured_media":8168,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[655423254],"tags":[],"class_list":["post-8167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Top 3 proven ways to win a bidding war in 2021 -<\/title>\n<meta name=\"description\" content=\"Want to know how to win a real estate bidding war? 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