Chicago Real Estate Podcast with Vergis Eiland

How to Win a Bidding War in Chicago

09.08.2016 - By Vergis EilandPlay

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Looking to buy a Chicago home? Get a full Home SearchSelling your Chicago home? Get a free Home Price Evaluation The real estate market in Chicago is highly competitive for home buyers right now. This is great news for sellers, but buyers aren’t completely without hope. Here are a few strategies you can use in order to push your offer to the top: Offer the most money: This is easier said than done, but in this seller’s market, it helps. Don’t forget that some sellers are looking for the most money, and others might be looking for convenience in terms of a quick closing.Get a pre-approval: This makes you nearly as good as a cash buyer, and most sellers will not even entertain an offer if you are not pre-approved. Close as quickly as possible: Sellers don’t want to wait in this market. The quicker you close, the happier everyone will be.Offer more earnest money: This shows the seller that you are motivated and very serious about buying a home. Offering a higher down payment will do the same for you. “ Sellers won’t even entertain offers from buyers that aren’t pre-approved. ” If you have any questions for myself or for David Bowen of imortgage, please don’t hesitate to contact us. We look forward to working with you!

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