How to Win in a Bidding War

At the start of the pandemic, I really believed the real estate market was headed for a downturn. Having worked with a home builder during the last recession, I could already see a flood of short sales and foreclosures in our future. To my surprise, the market has actually performed better than before COVID hit. Prices are up year-over-year, and Charleston is flooded with buyers clamoring to get into a house.  

Due to lack of inventory, buyers are now encountering a situation that we haven't seen in years - true bidding wars on homes. These days it seems like any 'good' home will immediately attract multiple offers within the first 24 hours of being on the market. Buyers are being outbid; oftentimes by offers that are well over asking price.  

To win a bidding war, it's vital that you work with an agent that has a pulse on the market (which recently has been changing on a weekly basis here in Charleston) and understands how to structure an offer. What might have gotten you an accepted contract a month ago no longer holds true today.  

If you're in the market to buy a home, contact me today. I'll review ways we can stand apart from the rest of the pack and get you into your dream home.