How to Win a Bidding War

February 2, 2018
Updated 6mo ago

Finding your dream home can be frustrating and the last thing you want to deal with when you finally find it is a bidding war. So what are some tactics in winning that war? Leigh Kamping-Carder, Digital Editor at The Wall Street Journal's "Mansion" section joins Your Future Home to discuss why putting pen to paper could win you that dream home.

In a recent study, 40% of recent offers for a home included a personal letter. In fact, penning a cover letter increased a buyer's odds by 52%. Kamping-Carder says you want your letter to express why you love the house and what memories you could see your family making in the house. She says people are more inclined to go for the higher bid, but a little flattery and emotion could go a long way.

Plus, what are some other tactics for winning a bidding war? First, make sure you a pre-approved for a mortgage. Second, add a few incentives like a waived preinspection or financial contingency.