How to Win a Kansas City Bidding War

Want to buy a Kansas City Home?  Click here to perform a full home search  Want to sell a Kansas City home?  Click here for a FREE Home Price Evaluation   You may also call us at 1-800-686-5088 for a FREE home buying or  selling consultation to answer any of your real estate questions. 

We are in a hot seller’s market right now, and there are a lot of multiple-offer situations happening out there. How can you win and buy the house when you are up against multiple offers?

The most important thing you can do is work with an experienced agent. You want an agent who is people-smart. The relationship between your agent and the seller’s agent is extremely important to positioning your offer in the best light. These agents are going to work together through closing to make sure things go smoothly for the buyer and the seller. However, each agent is still looking to get the best deal for their client. 

Now, one strategy you can use during a multiple-offer situation is writing a letter to the seller. Talk about why you fell in love with their property and what the property means to you and your family. It’s very endearing to the seller to think of another family enjoying the home and creating memories in it like they have. The letter helps you connect with the seller on a personal level.  

“

Work with an experienced agent.

”

You can also add an escalatory addendum. If you’re up against five other offers and you can afford it, this strategy can be very helpful. The escalatory addendum basically says that you will pay a certain amount, like $500, over the highest competing offer for the home. We use this clause very carefully. It might not work for everyone, but it can position you to win that property.

In a market like this, it’s not unusual to get beaten out on several properties before you get into a home. If you find the perfect one and you can be flexible on terms and price, we will work to make your offer the most appealing to the seller. 

If you have any questions, give us a call or send us an email. We look forward to hearing from you!

Which Properties Are Hard to Sell?

Want to buy a Kansas City Home?  Click here to perform a full home search  Want to sell a Kansas City home?  Click here for a FREE Home Price Evaluation   You may also call us at 1-800-686-5088 for a FREE home buying or  selling consultation to answer any of your real estate questions. 

Out of the 1,900 home sales my team has worked on, we’ve noticed there are certain types of homes that are more challenging to sell compared to others.

1. Odd properties: Over the years, we’ve successfully closed plenty of these properties. For instance, we’ve dealt with schools that closed down. This also includes homes with a weird shape that aren’t perfectly squared or have much road frontage. However, there’s a butt for every chair, so everyone wants a property.

2. Overbuilt homes: This describes homes that are nicer compared to their neighbor’s homes. This can be problematic from a lending or appraisal perspective. However, we’ve sold many homes like this, but it’s important for sellers to understand the buyer’s concerns or difficulties.

3. Clients with unrealistic expectations: Our goal is to educate our sellers to be the most educated in the entire marketplace. Sometimes, a seller with unrealistic expectations might owe too much on a property or already pulled the equity out when they refinanced. Those forces can make it difficult for us, but it’s still possible. We look at four primary factors when analyzing a property: condition, price, location, and marketing.

“

There’s a butt for every chair.

”

4.  Homes not staged correctly: Buyers shop competitively, and constantly compare your home to others in the surrounding community. To achieve an advantage over other available listings, stage your home professionally. It should shine and look its best to sell for top dollar.

5. No reasonable access: Sometimes, sellers don’t allow buyers to view their home during typical hours, such as after work or during dinner time. Things like having a daytime sleeper can make a property difficult to sell.

6. Unprepared sellers: Clients can be unprepared for the real estate process expectation-wise from time to time. For instance, they might be uncomfortable with strangers coming into their home at inconvenient times.

Despite these curve balls, there’s a strategy for every kind of property. We can help you in this process. If you’re thinking about buying or selling a Kansas City home, give me a call or send me an email. I’d be happy to help answer your questions!

Sell Your Kansas City Home With a Contingency

Want to buy a Kansas City Home?  Click here to perform a full home search  Want to sell a Kansas City home?  Click here for a FREE Home Price Evaluation   You may also call us at 1-800-686-5088 for a FREE home buying or selling  consultation to answer any of your real estate questions. 

Oftentimes, sellers approach us about contingent offers in Kansas City real estate. How do you sell a home with a contingency?

You can sell a home contingent on your home going under contract or closing. That’s preferable if you have a buyer’s agent for your second purchase. We call that a domino, since there can be multiple dominoes with closings that need to fall. 

Contingencies can definitely complicate the process. Although we do this all the time, we don’t do it often in a hot market like this one. We’re experiencing bidding wars more and more often. There are more buyers than sellers right now, which is simple supply and demand. The market favors sellers, so buyers don’t have as much flexibility with contingencies.

“

You can sell a home contingent on
your home going under contract or closing.

”

As a buyer, you need to meet the seller’s demands to compete with other competitive offers. Don’t be surprised if a seller doesn't accept your offer if it relies on your home being sold. When you’re selling, you’re in the driver’s seat.

The good news is that we have a ton of strategies to navigate this. We have a lot of experience in different types of situations to prepare us for curveballs. We understand it can be scary, so that’s why we have these plans to help you out the best way possible. 

If you’re thinking about buying or selling a home in the surrounding area, give me a call or send me an email. I’d be happy to help answer any questions you might have!