Winning a real estate bidding war

bidding-wars-spark-real-estate-housing-boom-realtor-south-florida-potential-homebuyer-buyer-sellerBy Lisa Prevost | The New York Times

The low supply of homes for sale in many markets means buyers must be prepared for bidding wars. Buyers should be strategic in how they present their offers, and avoid paying too high a premium for their “perfect” property.

Obtaining written confirmation of preapproval for a mortgage is a must, real estate agents say. Sellers looking over multiple offers will likely discard those on which financing is not assured.

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