What questions would you ask the listing broker...
Started by atlasnyc
over 18 years ago
Posts: 44
Member since: May 2007
Discussion about
..if the apartment you LOVE has gone to a bidding war?
This is their dream come true & they're just trying to maximize the take; I wonder how much info would be forthcoming. Bad for the buyer, great for them. Anyone else?
ask if the competing bids have a buyer's broker. If not, and your were smart not to use one you could win the bidding war with a lower bid. We did!
Ask when the owner would like to close, how strong are other offers--are they at or above asking price? How are the financial qualifications of competing buyers? Are the competing offers contingent on financing? How much are competing buyers financing? Then once you have the answers word your offer accordingly and make sure to have it in writing be neat and concise include a personal introduction letter about why you love the apartment along with your financial statement and attorney information.If the bids go to a "best and final" an experienced broker can help you there as well. Good Luck!