thingamajig, too. The instant you accept and sign off on a low contract offer—which could be a real estate vulture on the prowl—you’re tied to that contract. While you and your bidder are working on the accepted contract, you can’t accept any other offers. That wastes your valuable time, and could cost you better bids.
NEGOTIATION TECHNIQUE #3: BRING ON THE BIDDING WAR
Did you know there is such a thing as a bidding war? This is usually a carefully crafted situation that can bring the bid on a home above the price the homeowners asked for in the first place. Allow me to explain.
THE PROCESS
• The first thing you do is to put your desirable home on the market. • Ideally, you also schedule an open house for just a few days later. • As you put your home on the market, you also put in a disclaimer that you’re not going to entertain any bids made on said home until after the completion of the open house. You’re probably thinking this is ludicrous! How is going through all this trouble going to help you sell your home quickly, and for top dollar? You could be missing out on real bids!
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