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"Bidding for a new home can get pretty fierce in today's market," said Gibran Nicholas, Chairman of CMPS Institute, an organization that trains and certifies mortgage bankers and brokers. "In some cases, you may be competing with more than a dozen other buyers who are bidding on the same property." Here are three potential solutions to avoid getting outbid on your new home:
1 - Turn in your loan paperwork BEFORE you place an offer. In many cases, you are bidding against cash buyers who don't need to wait for financing approvals. Look at it this way: if you were the seller, would you prefer to do business with a buyer who needs to wait for financing approvals, or a c...
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