HomeSmart - Westminster
8774 Yates Drive, Suite 100
Westminster, CO 80031
8774 Yates Drive, Suite 100
Westminster, CO 80031
Real Estate Tips
Bidding Wars
If you're interested in purchasing a home, you've probably heard stories of "bidding wars" and buyers competing for properties. Today, let's dive into what a bidding war means! 
It's no surprise that we're in a seller's market. With low housing inventory, there are more buyers than there are homes for sale. This means there can be multiple buyers competing for the same property. 
When multiple buyers are making offers on the same home, they incrementally increase their offers in an attempt to stand out to the seller and beat out the other buyers, creating a bidding war!
Note that it's not always the highest price that wins a bidding war. There are many other factors and benefits to the seller that can be included in an offer. Many buyers have used non-financial strategies to make their offer stand out. 
As your agent, I can help you strategize so that you're ready for this competitive market. If you're interested in discussing more, please reach out! 
