Buyers, be prepared to both pay more than asking and prove your financial strength. Most agents in this area list at fair market value and you will likely be bidding against an all cash buyer. I suggest placing an all cash offer not contingent upon financing, as doing so does not mean you can’t finance the property, whereas it simply means that you are liquid and not making your financing a contingency of purchase.
We have a bag of tricks that will help you win the bidding war, but you need to listen to us! Escalation clauses, commission restructuring and lender placement are all essential tools in todays bidding war.
The middle class seems to be more liquid than any other time in our nation’s history! Many buyers are coming to Florida with CASH IN THE BANK!
Every time we place an offer, we must be aggressive, as there are many cash buyers in the market who have recently sold their northern home and are making Florida their new permanent homestead. Values in the sunshine state may be expected to increase at a higher percentage than in the past decade! Offering a few thousand more for the property you like is not unwise nor uncommon.
This post was written by and represents the opinion of 15 year associate broker, Andrew Cherry.