Offering 10% or More Above Asking Price - How to Make an Offer More Competitive

Offering 10% or more above asking price can be a huge competitive advantage when bidding on a house.

I know this can seem extreme, but it really depends on the situation and how many offers the seller has received. If there is only one offer on a house, then you most likely do not need to go 10% or more over the asking price.

When we see sales prices go 10% or more above asking price is generally when there are 7 to 12 offers on a property. It is a simple supply and demand equation. The supply is one house. The more demand on the house, then the more it will go over asking price.

How much over asking will a house go for? It’s a million-dollar question that no agent really knows. All we can do is our best and hope the chips come our way. We can use these ranges to help position our offers better to increase our chances of winning the bid.

https://www.boston2.com/blog/how-can-i-make-my-offer-more-competitive-the-buying-power-checklist/

Jeffrey Chubb | Chubb Homes Team | 617-480-2600 | Jeff@Boston2.com | www.Boston2.com | Brokered by eXp Realty