What the experts say

How to beat an all-cash bid; Saving for job hoppers; Getting a grasp on student loans

How to beat an all-cash bid

House-buying rules have changed since the market has heated up again, said Beth Braverman in CNN.com. “The days when you could scoop up a house for 20 percent less than its list price are long gone,” so “don’t waste time with a lowball offer.” In fact, don’t bother coming in more than 2 or 3 percent below the asking price. If you wind up in a bidding war, it helps “to move quickly, since today’s sellers don’t want multiple go-rounds.” To outsmart professional investors who “count on nabbing properties at a big discount” with all-cash deals, show a prequalification letter to prove your money is solid, and lead with your best offer. Investors are “unlikely to boost their bid” by more than 5 or 10 percent—they’ll just move on to another property.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us