Long Beach Island NJ (LBI NJ) Real Estate Market Bidding Wars
How to Win a Bidding War in the LBI Real Estate Market 
How to Win a Bidding War in the LBI Real Estate Market 
How to Win a Bidding War in the LBI Real Estate Market
Long Beach Island Real Estate
The Long Beach Island real estate market is competitive. Even in a down market there are opportunities for buyers on LBI and bidding wars are a rather common occurrence. Keeping that in mind, there are some simple ways to beat out other buyers in any market. Understanding How to Win a Bidding War in the LBI Real Estate Market is a critical step to educating oneself in the home buyer process. Apart from the obvious method of just paying the most, there are some additional ways to beat other buyers and get the home you want at the right price.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
How to Win a Bidding War in the LBI Real Estate Market
Not all homes will have multiple offers but when a bidding war occurs, there are some things you can do to make your offer stand out. They are:
- Pay the most-but stay within the market
- Offer better terms
- Make it personal
The obvious way to beat the market is to pay the most BUT that should only be done so long as the price offered is within the limits of the market. Some deals are not worth fighting for and nobody should overpay for a home on Long Beach Island. Understanding the LBI real estate market, the current trends and how homes are valued is necessary to buy any home, let alone buy a home in a bidding war. By understanding the market, a buyer can bid the best number the market allows while still preserving value. While price is important, so are the terms. There are a number of ways to improve the offer such as paying cash, dropping a home inspection contingency or offering a faster closing. Depending on the needs and wants of the seller, improving the terms can even beat out a higher offer with inferior terms. Lastly, make the offer personal. Depending on who you are bidding against, humanizing the offer can be very helpful. Explaining to the seller why you want the home can give you an edge!
Buying a Home in the LBI NJ Real Estate Market
One of the most important things to remember when competing with other buyers in the LBI real estate market is to not overpay. You as a buyer have to pay the price that makes sense to both the market and to yourself. Just because someone else is willing to pay a higher price does not mean that you should. Rather, you should understand the market and pay only what the market says a home is worth. If you have any questions about buying, selling or investing in the LBI real estate market please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
You May Also Like:
Buying Long Beach Island Real Estate Condos
Long Beach Island Real Estate Comps
Buying a Home in the LBI Real Estate Market in Spring 2019
Two LBI Real Estate Trends That Could Make This A Good Time To Buy