Tips for How to Avoid Getting in a Bidding War?

Tips to Avoid Getting in a Bidding War

The Atlanta Real Estate market is experiencing drastic change, in certain areas, we are seeing a bidding war going on.  Most of our clients are complaining that their offers are pushed out either by cash buyers or higher offers, this has become so common that I’m beginning to advice the following to our clients:

Get a Loan pre-approval Letter

Step number one when buying a home is getting pre-approved for a loan, if the house you are interested in buying has multiple offers, the seller or seller agent is going to analyze which offer has the highest possibility of closing, based on my persona experience, is not always the heights offer. You may be able to out bid the other offers if you offer contains a pre-approval letter from a large bank or reputable Loan Officer, also, in your offer, don’t be afraid to put a 3 to 5% earnest money check, this will provide some credibility to the seller that you are serious about buying this home.

You have to be the first to make an offer

In a buyer frenzy, there is no question that been the first to make an offer gives you and edge over the other possible buyers. To be the first to make an offer, you really have to pay close attention to the current list of homes for sale in your local M LS. One easy way  to stay on top of new listings is by registering on a local real estate website such as kstrealty.com, by doing so, you will be notified every time a new listing hits the market, this website updates their listings every hour. Another way is, having your real estate agent register you in the local MLS  and ask your agent to send you an email every time a new listing meeting your requirements is put into the system. If you are in the Atlanta area you need to ask your agent to register as a prospect on the First Multiple Listing Service (FMLS) or the Metro Listing Service (MLS), both of these systems will email you notification as soon as a house is listed.

Work with an Agent

There is no cost to hiring a real estate agent to represent you. Real Estate Agents have access to the Multiple Listing Service, therefore have access to current real estate data, they also know of homes that are not listed yet but are potential listings. Most experience agents will ask you to sign a Buyer Brokerage Agreement, it is important for you to sign this agreement, not only is the law in Georgia if a buyer wants to be represented by an agent you have to have the Buyer Brokerage agreement signed, but agents that have signed agreement with clients have the fiduciary duty to represent you and provide you any and all information about the property your are interested in buying. You might be tempted to call many agents or different agents for different homes, if you are one of those buyers, this is what you are missing: No single agent will give you the time that you really need to purchase a home, they will provide you the basic a minimal information, they will not return your phone calls or emails because they are busy helping their clients, if you have not signed their agreement your are not their client and as such they will not give you any time. In a sellers market, it is imperative you hire a professional real estate agent or else you will always be out bid by others.
Telmo Bermeo is an Associate Broker with America’s Network Realty Group, Inc. located in Dunwoody GA, we represent Buyers and Sellers in the Atlanta Metro Area. If you are planning to buy or sell a home and want professional representation, give us a call today at 770-309-6417 and one of our agents will be in touch with you.

List of current Homes for Sale in Atlanta

$289,000
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
900
SQFT
Lindsy #12
960 Taft Avenue NE
Atlanta, GA 30309
New Listing - 2 weeks online
$308,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
770
SQFT
Wilburn House #107
266 11th Street NE
Atlanta, GA 30309
$1,125,000
Multi-Family For Sale
Pending
0.075
ACRES
FULTON
COUNTY
968 Argonne Avenue NE
Atlanta, GA 30309
Midtown Subdivision
New Listing - 2 weeks online
$350,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,182
SQFT
Park Gate #101
1078 Piedmont Avenue NE
Atlanta, GA 30309
$262,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
895
SQFT
Piedmont Park West Lofts #104
1029 Piedmont Avenue NE
Atlanta, GA 30309
$425,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,237
SQFT
Piedmont Park West Lofts Condo #201
1029 Piedmont Avenue NE
Atlanta, GA 30309
$419,900
Condo For Sale
Pending
2
BED
3
TOTAL BATHS
1,242
SQFT
Ansley Above The Park #1004
1130 Piedmont Avenue
Atlanta, GA 30309
Price Change - 3 weeks ago
$549,500
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,536
SQFT
Ansley Above The Park #413
1130 Piedmont Avenue NE
Atlanta, GA 30309
New Listing - yesterday
$329,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
790
SQFT
Ansley Above The Park #1005
1130 Piedmont Avenue NE
Atlanta, GA 30309
$639,900
Condo For Sale
Pending
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe #1402
222 12th Street NE
Atlanta, GA 30309
Price Change - 3 weeks ago
$530,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,329
SQFT
Luxe #1508
222 12th Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$765,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe #1502
222 12th Street
Atlanta, GA 30309
Price Change - 3 weeks ago
$424,900
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,424
SQFT
Lofts At The Park Ii #201
1058 Piedmont Avenue NE
Atlanta, GA 30309
New Listing - 2 weeks online
$572,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,515
SQFT
Lofts At The Park Ii #303
1058 Piedmont Avenue NE
Atlanta, GA 30309
New Listing - 7 days online
$499,000
Condo For Sale
Active
1
BED
2
TOTAL BATHS
1,424
SQFT
Lofts At The Park Ii #301
1058 Piedmont Avenue NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$249,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
780
SQFT
Parc Vue #505
275 13th Street NE
Atlanta, GA 30309
$269,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
860
SQFT
Parc Vue #809
275 13th Street NE
Atlanta, GA 30309
$249,887
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #603
275 13th Street NE
Atlanta, GA 30309
New Listing - a week online
$259,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #404
275 13th Street NE
Atlanta, GA 30309
New Listing - 7 days online
$279,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #103
275 13th Street
Atlanta, GA 30309
$262,500
Condo For Sale
Active
1
BED
1
TOTAL BATHS
850
SQFT
Parc Vue #307
275 13th Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$399,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,350
SQFT
Parc Vue #211
275 13th Street NE
Atlanta, GA 30309
$238,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
765
SQFT
Parc Vue #304
275 13th Street NE
Atlanta, GA 30309
$590,900
Townhouse For Sale
Active
2
BED
2
TOTAL BATHS
1,653
SQFT
199 12th Street #7
199 12th Street NE
Atlanta, GA 30309
New Listing - a week online
$599,000
Townhouse For Sale
Active
2
BED
2
TOTAL BATHS
1,824
SQFT
199 12th Street #6
199 12th Street NE
Atlanta, GA 30309
$775,000
Single Family Home For Sale
Pending
2
BED
3
TOTAL BATHS
2,301
SQFT
972 Myrtle Street
Atlanta, GA 30309
Midtown Subdivision
$275,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
792
SQFT
Park View #8
272 14th Street NE
Atlanta, GA 30309
$375,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
940
SQFT
Lofts At The Park #701
206 11th Street NE
Atlanta, GA 30309
New Listing - 8 hours online
$388,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
980
SQFT
Loft At The Park #205
206 11th Street NE
Atlanta, GA 30309
$349,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
1,038
SQFT
Lofts At The Park #204
206 11th Street NE
Atlanta, GA 30309
$425,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
1,005
SQFT
Luxe #2105
222 12th Street NE
Atlanta, GA 30309
$1,499,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,820
SQFT
Luxe #1806
222 12th Street NE
Atlanta, GA 30309
$1,075,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,820
SQFT
Luxe #906
222 12th Street NE
Atlanta, GA 30309
$649,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,732
SQFT
Luxe Condo #1103
222 12th Street NE
Atlanta, GA 30309
New Listing - yesterday
$715,000
Condo For Sale
Active
2
BED
3
TOTAL BATHS
1,727
SQFT
Luxe #1507
222 12th Street NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$189,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
620
SQFT
Midtown On 8th #3
317 8th Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$179,900
Condo For Sale
Active
1
BED
1
TOTAL BATHS
640
SQFT
Midtown On 8th #6
317 8th Street NE
Atlanta, GA 30309
$346,000
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
1,082
SQFT
Parkview #23
272 14th Street NE
Atlanta, GA 30309
$1,749,900
Townhouse For Sale
Active
3
BED
4
TOTAL BATHS
2,650
SQFT
1204 On The Park #2
1204 Piedmont Avenue NE
Atlanta, GA 30309
$1,799,900
Townhouse For Sale
Active
3
BED
4
TOTAL BATHS
2,650
SQFT
1204 On The Park #3
1204 Piedmont Avenue NE
Atlanta, GA 30309
Price Change - 7 days ago
$247,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
693
SQFT
Mayfair Renaissance #1404
195 14th Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$325,000
Condo For Sale
Pending
1
BED
2
TOTAL BATHS
1,055
SQFT
Mayfair Renaissance #811
195 14th Street NE
Atlanta, GA 30309
$249,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
750
SQFT
Mayfair Tower #809
199 14th Street NE
Atlanta, GA 30309
New Listing - 4 weeks online
$250,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
750
SQFT
Mayfair Tower #2509
199 14th Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$375,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,007
SQFT
Mayfair Tower #1508
199 14th Street NE
Atlanta, GA 30309
Price Change - 4 weeks ago
$230,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
750
SQFT
Mayfair Tower #906
199 14th Street NE
Atlanta, GA 30309
New Listing - 4 days online
$369,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,103
SQFT
Mayfair Tower #605
199 14th Street NE
Atlanta, GA 30309
New Listing - a week online
$369,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,161
SQFT
Park Central #604
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$379,900
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,158
SQFT
Park Central #921
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - a week online
$300,000
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
1,072
SQFT
Park Central #727
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 2 weeks online
$319,900
Condo For Sale
Pending
2
BED
1
TOTAL BATHS
1,008
SQFT
Park Central #72
1101 Juniper Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$385,000
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,161
SQFT
Park Central #54
1101 Juniper Street NE
Atlanta, GA 30309
$239,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
764
SQFT
Park Central #1512
1101 Juniper Street NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$234,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
723
SQFT
Park Central #708
1101 Juniper Street NE
Atlanta, GA 30309
Open House 08/25 at 1PM
$799,000
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
3,287
SQFT
877 Penn Avenue NE
Atlanta, GA 30309
MIDTOWN Subdivision
$509,831
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,502
SQFT
1023 Juniper Lofts #305
1023 Juniper Street NE
Atlanta, GA 30309
Price Change - 2 weeks ago
$295,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
1,024
SQFT
Juniper Lofts #104
1023 Juniper Street NE
Atlanta, GA 30309
New Listing - 3 weeks online
$330,000
Condo For Sale
Active
1
BED
1
TOTAL BATHS
930
SQFT
1023 Juniper Lofts #105
1023 Juniper Street NE
Atlanta, GA 30309
$224,900
Condo For Sale
Pending
1
BED
1
TOTAL BATHS
877
SQFT
Ansley Arms #307
1230 Piedmont Avenue NE
Atlanta, GA 30309
$299,000
Condo For Sale
Active
2
BED
1
TOTAL BATHS
858
SQFT
Piedmont Crescent #15
907 Piedmont Avenue NE
Atlanta, GA 30309