 TITLE: How to Win a Bidding War on a House CONTENT: How to Make a Competitive Offer on a House\n------------------------------------------\nWinning a bidding war has everything to do with convincing a seller that you're the best buyer they're going to find. A recent TD Bank survey found that 19% of competitive bidders were prepared to offer up to $50,000 more than the asking price of a home. It likely isn't the best strategy to present an offer that's at or below the home's asking price, as most sellers will be drawn to higher bids. Of course, offering too much right out of the gate could win you the bid but leave you paying more than you'd like. Bidding above asking can be especially prohibitive if your offer exceeds your mortgage lender's appraisal. In this case, you may have to cover the difference in cash before the lender will approve the transaction.\nAn experienced real estate agent or broker who's familiar with your local market can help gauge the seller and clarify what a competitive offer looks like. Some questions to ask yourself include:\n*   Are there any competing bids?\n*   Are there many other similar properties on the market, or is this property one-of-a-kind?\n*   Are you prepared to offer enough to meet, and likely exceed, the fair market value of the home? A trusted real estate agent should be able to clue you in to average market prices. END