Amid bidding war, one buyer offered $50K for the other to walk away

With so few homes available to buy on the market, some buyers are going to new extremes, resorting even to bribing other buyers to withdraw their competing bid so their own will be accepted. Buyers are using such desperate tactics because they may feel there’s no other way. Real estate agents in Dallas report submitting

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Bidding wars decline for 5th straight month

Bidding wars declined again in September for the fifth successive month in a further sign that the housing market is becoming ever so slightly less competitive. That’s according to a new report from Redfin, which found that 58.9% of offers submitted by its agents on behalf of clients had to compete with other bids. Although

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iBuyers gatecrash the all-cash offers party

Some home buyers are leaning on so-called iBuying firms to better compete by offering all-cash on the properties they target. iBuyers can help buyers by making cash-backed offers on their behalf or by providing financing to help draw attention to their offer in a bidding war, experts say. The National Association of Realtors reported that

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Buyers face less bidding wars as competition eases

There are signs that competition among buyers in the red hot housing industry is easing, though the market still remains much more competitive than in recent years. A recent report from digital real estate brokerage Redfin has shed light on the reduced demand for mortgage application purchases in May. In other words, there were slightly

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Why a bridge loan can give buyers an advantage in bidding wars

Real estate shoppers who’re struggling to buy a home due to the intense competition in the market might want to consider using a bridge loan to give themselves an edge. A bridge loan enables buyers to fund their next home purchase before they sell their current home. It enables them to waive the sale of

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Bidding wars heat up, but buyers are undeterred

Home buyers in the U.S. are facing increasingly fierce bidding wars, but even as prices rise and competition heats up, they’re not giving in. A new survey by the National Association of Home Builders last week found that around 40% of prospective home buyers have been unable to purchase one because they keep getting outbid,

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Buyers resort to desperate tactics as bidding wars heat up

Home buyers across the U.S. are finding themselves in bidding wars due to a reduced supply of homes on the market, and some are resorting to desperate measures to ensure their bids are accepted. But sometimes they take things too far, professionals say. An article in the Wall Street Journal recounts the story of Mary

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Agents expect more bidding wars throughout 2021

With housing inventories low and home values rising by double-digits over the past year, sellers are holding firm on the price they demand. A recent survey by the real estate agent referral firm HomeLight has found that 52% of agents believe the biggest challenge sellers will face in 2021 is the temptation to overprice their

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A Seller’s Guide to Navigating Bidding Wars

The real estate market is doing some weird and wonderful things in light of the pandemic. Many areas are experiencing an aggressive sellers’ market, unlike any they’ve experienced before. This occurrence puts many sellers in the prime position of navigating a bidding war. If you’re selling your home, you may be wondering how a bidding

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Home buyer demand reaches new highs

Housing inventory in the U.S. has fallen by 37% since just one year ago. Meanwhile, the increased demand among buyers has led to more bidding wars and a very rapid pace of sales, realtor.com said in its latest Weekly Recovery Report. Now, homes are selling nine days faster than they were a year ago, even

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