This is the fourth post in my “Tips on Home Buying” blog post that helps buyers avoid overpaying in a bidding war in Northern Virginia. If you’re just joining us, you can read Part 1, Part 2, and Part 3 first.
Tips on Home Buying – It’s Never Fun to Have Buyer’s Remorse When You Buy a Home
Those other buyers who won the bidding war got a really bad deal. Not only did they overpay for the property, but since they didn’t do a home inspection, they had no way of knowing the true condition of the property. For all they knew, the property could have had major foundation issues that required $30,000 worth of work. The cosmetic work alone on that property was going to eat up any profit margin, let alone the potential for unforeseen costs that could have been revealed by the home inspection.
Long story short, the sellers in this transaction made a smart move by pricing their home competitively, and they did a good job of generating a bidding war and causing a buyer to get emotionally involved and pay more than they should have for a property. As a home buyer in Northern Virginia, where bidding wars are common, it’s important to set your limits, and never pay more than you want to for a property.
I hope you’ve enjoyed this blog series on tips on home buying you can use to avoid overpaying in a bidding war.
Are you thinking of buying a home in Northern Virginia? Call me at 703-462-0700 or email me at DarrenRobertsonHomes@gmail.com for a list of the top 10 deals in the zip code of your choice!
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