Does It Help To Submit Your Offer Last in a Bidding War?

Bruce Brown Buying And Selling Leave a Comment

As people got used to wearing masks and keeping their distance, and with businesses and services slowly opening up, buyers and sellers stormed back into the real estate market in July.

It was one hot July. I represented five sellers. Every one of them received multiple offers and sold way over asking price. Here are the amounts over asking:

  • $40,000
  • $66,800
  • $30,100
  • $71,100
  • $20,000

I had the opportunity to observe the strategy of multiple parties (buyers with their agents) submitting offers to five of my clients in a short period of time.

So today’s question is, if you’re trying to buy and are facing a “bidding war”, is it a good strategy to be the last to submit your offer? Come in with a bang at the last minute to try to beat out other offers?

In this video I talk about that, and also give you a quick tour of the 5 properties my clients sold this month.

If you like this video or are particularly interested in bidding war strategies, you might want to check out this article: Bidding Wars That Aren’t

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