How Buyers are Winning the Bidding War
How are buyers winning the bidding war in what has been an historic seller’s market?
This market has been a seller’s market. And the prices coupled with the number of buyers vying for the same style home in the most popular areas has made “bidding wars” the new normal in the homebuying process. Even with the recent slowdown in activity, inventory is still too low to keep up with demand. So, while the prices may be leveling off, the number of buyers competing for the same homes is still high.
Buyers are wondering how on earth they can win their dream homes. And the lengths to which they’ve gone have, in some cases, been rather unsettling. From paying up to 21% over the list price to waiving home inspections to providing large, non-refundable earnest money deposits, here are some ways buyers in the Tampa Bay market have been winning the bidding war.
- Shortening inspection contingency periods and/or waiving inspection contingencies.
- Making large earnest money deposits (EMD) and/or making EMD deposits non-refundable.
- Putting more money down and financing less.
- Providing sellers flexibility of closing date.
- Allowing sellers to occupy the property after closing for up to 60 days.
- Paying some or all of the seller’s closing costs and expenses.
- Waiving any appraisal contingencies (non-financed) and/or adding an appraisal gap clause (financed).
- Offering more than the list price.
- Making a cash offer.
- Making other concessions that align with the seller’s needs/goals for the sale of the property.
As always, there are some other ways buyers are landing their homes in the current seller’s market including looking outside of their “preferred” area to purchase or opting for a home that might need a little more updating than they had originally planned. I always recommend buyers enter the market with realistic expectations and a good amount of flexibility, as buying a home is a process that is often challenging, and buyers need more creative vision and open minds with current conditions to be able to win the bidding wars (or, ideally, avoid them altogether).
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Are you ready to start your home search? Then it’s time for us to talk! There are many ways I can help with the process and get you on your way to purchasing your next home. Scroll down to book your initial buyer’s consultation by phone or video call by clicking here or scroll down.
You can click here to check out the current market statistics as well. See average home prices, average time homes are on the market and how they compare year-over-year.
Not quite ready to start your home purchase journey, but want to get a look at what’s currently on the market? Click here to search current listings in the area.
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Clearwater, FL Read More
Candis is a real go-getter! She stayed on top of the listing and sale of our home. She was very quick to respond to questions and had up-to-date info on any details we had our attention on. We don't know how she could have done her job any better! She was really good when it came to negotiations and closing our sale. She did what it took to get our sale completed. You will be pleased with her personality and performance handling your transaction.
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St. Pete, FL Read More
Candis was honestly a great Realtor! We were moving from out of state, and she gave us virtual tours of each property. She paid attention to details like the smell of each home. She was always punctual and even sent us helpful reminders to guide us through the move-in process. It would have been impossible for us to make the move without her help!
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Port Richey & Pinellas Park, FL Read More
Candis went beyond my expectations. She was cheerful and found a place for me to move to within my tight budget in less than a month. She really cares about her clients - she even helped me find a place overnight to stay and provided transportation as I don't drive. I was so grateful to have Candis as my Realtor.
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St. Pete, FL Read More
Candis worked so hard for us. She was always on time, prepared, and knowledgeable. She was also kind and patient with her reminders and support. I can't recommend her highly enough! I had an ideal experience!
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Largo, FL Read More
Candis is a highly experienced and knowledgeable realtor. She prides herself on knowing the market, neighborhoods, and the larger view of real estate trends across the country. Her insights, professionalism, and excellent communication skills translate to an interaction that is easy, streamlined, efficient, and effective. I recommend Candis 100%!
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Largo, FL Read More
Absolutely amazing. Was very helpful and willing to answer all my questions to the best of her knowledge. Came back to me with more information if she didn’t have the best answers available.
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Largo, FL Read More
Candis was very hands on and always available. She got our home sold and was a huge help in my relocation. We had lived in the same house for 29 years and were unsure how to proceed in our sale. Candis knew what she was doing and steered us in the right direction. She was always thorough in explaining each and every step.
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Clearwater, FL Read More
My buying experience started rough with an agent who did nothing for me. Then I found Candis. I could tell the difference! She immediately began working hard for me. She is a very educated, helpful Realtor who was always a step ahead! She has a great personality and I recommend her to everyone! Even in a tough market, she made my dream of buying my first home a reality and we closed within 30 days!
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St. Petersburg, FL Read More
Thanks to Candis for helping me find a place to call home. In what can be a very stressful experience, Candis always kept things positive and stayed on track towards accomplishing the goal. I highly recommend her for anyone trying to find the right property. I appreciated all of her market insight and creative ideas for making this property more of a home!
★★★★★
Largo, FL Read More
Candis helped my boyfriend and I purchase our first home. She made the process so efficient and easy that we never stressed about a thing! She is extremely knowledgeable and was always available to answer my questions. She is very responsive and willing to assist whenever needed. The entire process from Pre-approval to Closing was seamless and I wouldn’t want to go through it with any other REALTOR!
★★★★★
Largo, FL Read More
Candis went above and beyond to help me secure my new home purchase. There were many hiccups we encountered (at no fault of Candis). She worked hard to be an advocate for me through the entire process, even after closing. 10/10 would highly recommend. Working with Candis was like house shopping with a good friend!
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Holiday, FL Read More
It was great working with Candis. She really cares about her clients and what they want in a home. Her professionalism is top notch.
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Clearwater, FL Read More
Candis has a very happy personality that is so refreshing! If we had questions, she was there to answer. And she worked well with our loan team! In this extremely difficult housing market, Candis kept us positive and patient and we finally got an offer accepted on our first home! If you are looking for a realtor, Candis is the perfect one!
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Largo, FL Read More
Candis will exceed your expectations. She is personally committed to helping people with extreme professionalism. This combination results in a realtor who anticipates your needs and provides solutions, goes 'above and beyond' normal communication, and executes on your behalf with diligence, care, and expediency. I couldn't recommend her more!
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Largo, FL Read More
We were moving from CA to FL and Candis made house search over the next year so easy. All we had to do was tell her what we were looking for and she did all the work! She made us feel like family and went above and beyond to help find our perfect house. Candis truly is an upbeat agent who listened to our needs and wants while her fun and positive attitude made her a joy to work with. And her honesty is refreshing.
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Largo, FL Read More
We connected with Candis when we visited open house. It was our lucky break! She never made us a feel like just a commission, nor was she impatient as we dragged out the process. She took the time to understand our wants and provided insight, opinion and reassurance throughout the process. Her experience and knowledge were very helpful and she was patient with our many changes in direction. She exceeded our expectations!
★★★★★
Harbor Bluffs, FL Read More
Candis Carmichael is a fantastic realtor. Her positive outlook paired with her professionalism is a great combination! She is smart, experienced and knowledgeable. She was in constant contact with us and always returned emails, text messages or phone calls in a prompt manner. My husband and I would recommend Candis whether you are buying or selling your home.
★★★★★
Largo, FL Read More
REALTOR Candis is a true professional Realtor. She listens to your wants and needs, then goes out to find what you asked for. She has local knowledge of all areas (which helped with our relocation from out of State). Candis responds to all phone call and text messages within a short amount of time.
★★★★★
Pinellas Park, FL Read More
REALTOR Candis is a consummate professional who guides you every step of the way and beyond the sale. She is detailed, personable and always your champion. I can't say enough about REALTOR Candis and would whole-heartedly recommend her to anyone seeking to sell or buy a home.
★★★★★
Largo, FL Read More
She is a great realtor! She listens and truly wants to help people find their forever homes. She's smart and a go-getter and we greatly appreciate everything she did to help us quickly find and buy our new home. She thoroughly explained everything during the process, answered our questions and gave great suggestions. If you want someone who cares and will truly work for you, Candis is who you need! She really is awesome!
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Pinellas Park, FL Read More
Candis was a such joy to work with! She found us our perfect vacation home and worked hard to get everything finalized. Thank you for your dedication and constant updates during this long distance purchase.
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St. Petersburg, FL Read More
We appreciate that REALTOR Candis was genuinely concerned with helping us find a home. We had been blown off by other agents, owners and managers who who kept stringing us along only to tell us they sold or rented out the house. Thank you!
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Spring Hill, FL Read More
Candis was recommended and after meeting with her, we were quickly impressed with her professional manner and knowledge of the areas where we were looking to buy.
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