Home buyer bidding wars and how to get around them

I sold a great solid home yesterday to some wonderful buyers. They had lost 2 homes before due to bidding wars. This is something that every buyer today fears and hates. People are going so far as to take out the appraisal and/or the inspection contingencies to get their offer accepted (Not advisable).

The situation was this: This was a great solid home, but it had ceramic tile countertops in the kitchen and baths, not granite or quartz. This was not a big deal to my people. Also, as we know, everyone today wants to see grays and whites in the home interiors. This home has tans and creams. It was built in 2010 and that’s what people used then. This was also not a big deal to my people. The stove was electric, which many people prefer gas. In this case, the gas furnace was right above the kitchen, so it will be no big deal to drop a gas line and replace the cook top. Other than that, the home¬† had everything that they were looking for.

The point is that, because of these things, some people would call them deficiencies, my people paid list price, as opposed to $15,000 over list. There was no bidding war. Yes, there were a few other minor things, but they’ll show up on the inspection and will be corrected by the seller. Oh, and the home was priced under market value.

The point is: If you are able to overlook a few cosmetic items, you’ll come out financially better than most.

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