"Bidding War" — it can be an intense and scary term for something that isn't actually a war at all. Rather, it's simply your homebuying strategy vs. competing strategies to win the home you want to call yours.
Today's market is competitive and bidding wars are not uncommon. In fact, in 2017, nearly one in four homes sold for more than asking price due to buyers out–bidding each other.
So, how do you "win" this war? There are different strategies that have proven effective over the years, some more challenging than others, but all worth consideration.
Because every local market and seller's situation is different, you'll want to rely on your real estate agent's professional advice. Also, be sure to visit My Home by Freddie Mac® to learn more about the homebuying process, from soup to nuts.
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