Home Buying: How to Craft a Winning Bid

In a seller’s market, finding your clients’ dream home might not be the hardest part — winning it could be the biggest challenge! Here are three tips for making sure that your clients’ bid is the strongest one.

  1. Offer high. In many cases, you don’t want to start a negotiation with your best offer. This is not one of those cases! In a bidding war, money isn’t the only thing that talks, but it often talks the loudest. Make sure your buyers know that if they don’t come to the table with their best offer, they could lose the chance at the home they want.
  2. Make the sellers’ lives easier. By the time your buyers show up, the sellers have already been working hard. The easier you can make the sale, the more likely the sellers will choose you over another offer that requires more from them. This means catering to the seller’s wants, not requesting repairs, etc.
  3. Write a cover letter. Including a letter from you to the listing agent is a great way to demonstrate your clients’ interest, highlight the most attractive parts of their offer, and open up a clear path for communication if there are any questions or concerns.

There’s no guarantee that even a well-crafted bid will get accepted, but if you follow these key principles, you can help your clients put together the bid that’s most likely to win them their dream home.

The Jim Passi Team at Citywide Home Loans proudly serves Illinois, Wisconsin, Michigan, Indiana, Georgia and Flordia. If you are looking to buy a home or refinance, we have you covered. Apply Now to get started.

Jim Passi - Citiwide Home Loans

Jim Passi
Regional Manager
NMLS# 158000

1300 East Woodfield Road, Suite 302
Schaumburg, IL 60173
Mobile: 847-899-1813
Office: 847-273-3265

Had a number of home

Had a number of home loan originators pass on servicing a rental property cash out refinance, probably due complex and extenuating circumstances. Jim took on the challenge and despite obstacles and a few deviations from original plan we were able to secure financing. In my experience the loan process is always dynamic but Jim persevered and was very communicative during the process. It took a bit longer than originally expected but again it was a bit more complex situation. Would recommend and would use Jim again on any future mortgage needs.

David W.