Get Your Home In a Bidding War and Take Top Dollar

Tips On How To Draw Your Home Into a Bidding War

bidding war

In an already hot real estate market where home prices in Los Angeles are sky high many sellers are looking for ways they can not only increase the number of offers they get, but also how much over asking price they can achieve. If you’re planning on selling your home you may be asking yourself, how can I get the most out of my next home sale? Whether you own a town-home, condo, or single family residence there are many strategies that can help increase the amount of over-asking price offers you get.

Enticing A Bidding War Starts With Pricing Right:

Deciding on a price to list your home at is a critical part of effective selling. A great way to help initiate a bidding war can be to price your home just under what it’s worth. Doing so can create an auction dynamic that draws in high bids. It can also create some guesswork for buyers and facilitates anticipation.

Staging Increases Value:

Although staging can be expensive, it’s often worth the investment. According to the National Association of Realtors (NAR) staging a home when putting it up for sale can affect the way a buyer values it and the price a seller can actually get for it. Having your home in the best shape it can be is an important part of attracting prospective buyers and getting your home into a bidding war.

Don’t Forget To Complete Home Improvements:

According to the Wall Street Journal, sellers who invest $15,000 or more when putting their home up for sale can expect to regain their investment several times over. Making that extra investment to complete home improvements whenever possible such as redoing floors, repainting walls, and updating kitchen counter tops will make your home more desirable to buyers and help create a bidding war.

Consider Ordering A Pre-Inspection Report:

Consider ordering a pre-inspection report before listing your home. The benefit to presenting a satisfactory pre-inspection report to prospective buyers is that it can increase the likelihood that you’ll receive offers that aren’t contingent on a home inspection.

Timing Is Everything:

Last but not least, keep in mind that the first 10 days after listing your home are critical. If you plan to make home improvements or stage your home, be sure to do so before your home is placed on the market. Making a strong first impression can create a buzz among real estate agents in the first few days of listing in addition to creating an initial appeal for potential buyers which can lead to a bidding war.

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