Real estate: 3 tips to start a bidding war and 3 tips to win one

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by Catherine Holland

GMAZ interview by Kaley O'Kelley

Posted on May 4, 2012 at 10:44 AM

Updated Friday, May 4 at 11:01 AM

PHOENIX -- The housing inventory is low in Arizona, which means houses aren't on the market for very long, sometimes a matter of hours.

Oftentimes, people are making offers on properties, sight unseen. It's making the market extremely competitive.

Real-estate agent Marge Peck sat down with 3TV's Kaley O'Kelley to talk about bidding wars from both sides of the transaction.

Sellers: How to create a bidding war

1. List in the sweet spot price-wise

2. Market the property in MLS

3. Post as many pictures as you can

Buyers: How to win a bidding war

1. Make is a clean offer

2. Be prepared to make an offer (Have cash ready to go)

3. Don't offer below the list price

For information, visit www.ThePeckTeam.com or call 480-CHOICES.

 

 

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