Jeffrey Adamson Houston, Texas, resident and Realtor®, is a respected businessman in the Houston real estate industry. Hot markets like those that Jeffrey Adamson handles can make it difficult to land your dream house, and buying a house in these markets often involves a bidding wars. Bidding wars can be likened to gambling and, like gambling, experienced bidders have tactics that can give them an advantage over other buyers.
One such tactic is uneven bidding. For example, instead of bidding $600,000 on a home, you would bid $601,300. Below are some of the reasons that uneven bidding can often swing the deal in your favor:
Uneven numbers have a higher chance, most obviously, because you’re bidding a slightly higher number than anyone else with your budget might. If both buyers have a $600,000 limit, bidding just $1,300 higher can be the amount that gives you an edge.
Sellers are more likely to focus on an uneven bid because it looks odd and it draws attention as a result. With a list of $600,000, $599,000 and $601,300, the final number stands out both because it is higher and because it isn’t uniform.
Uneven bids give the illusion that you’re willing to bid as much as you can afford on the home. The seller will likely assume that they extra $1,300 represents a maxed budget and, as a result, might feel pressured to take your offer.
Jeffrey Adamson has helped clients with several bidding wars in the Houston area and, in that time, he has seen many different successful and unsuccessful strategies. Each bidding war is unique, so talk about your options with your Realtor® and decide where to go from there.
One such tactic is uneven bidding. For example, instead of bidding $600,000 on a home, you would bid $601,300. Below are some of the reasons that uneven bidding can often swing the deal in your favor:
Uneven numbers have a higher chance, most obviously, because you’re bidding a slightly higher number than anyone else with your budget might. If both buyers have a $600,000 limit, bidding just $1,300 higher can be the amount that gives you an edge.
Sellers are more likely to focus on an uneven bid because it looks odd and it draws attention as a result. With a list of $600,000, $599,000 and $601,300, the final number stands out both because it is higher and because it isn’t uniform.
Uneven bids give the illusion that you’re willing to bid as much as you can afford on the home. The seller will likely assume that they extra $1,300 represents a maxed budget and, as a result, might feel pressured to take your offer.
Jeffrey Adamson has helped clients with several bidding wars in the Houston area and, in that time, he has seen many different successful and unsuccessful strategies. Each bidding war is unique, so talk about your options with your Realtor® and decide where to go from there.
