The Insider's Guide To Selling Your Home By Owner- Rocio Fausto I | Page 52

later.


As you put your home on the market, you also put in a
disclaimer that you’re not going to entertain any bids made on
said home until after the completion of the open house.

Well, you’re probably thinking that this is ludicrous! How is
going through all of this trouble going to help you sell your home
quickly, and for top dollar? You could be missing out on real
bids!
Hold on to your horses, cowboy, because there’s more to
this story. The answers to your questions are simple as can be.
Human nature will take over, my friend. You and I have just
created a prime situation for competition to abound.
Everyone who sees the home and loves it will want to make
a bid. Shoot, some really competitive players will want to bid just
to see if they can win the prize! They’ll all know from the onset
that you are potentially getting offers from countless other people,
too.
You have just been set up to take multiple bids at once, and
this gives you the freedom to go with the best one.
Potential homeowners who really want your house for their
own are going to start bidding high, and they might keep
overbidding each other.
In this type of situation, or a bidding war, it is not
uncommon at all for the seller to come away with more than their
asking price.
The reality of the situation is that you might only get one bid
out of the whole shebang. However, the bidder isn’t privy to that
information. The fact that they know they could be competing
against other offers works in your favor, as well.
They are going to try to make an offer that’s better than
everyone else’s because they don’t have a clue that there is no one
else at all. At the end of the day, who does the winner turn out to
be? You do!
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