7 Times to Offer Over Asking Price on a House—or Else You May Lose Out
Offering over asking price on a house often makes buyers wince. But let’s face it, paying above list price is just a reality in certain circumstances—at least if you really have any hopes of getting that house!
So when exactly should you aim high and offer over asking? Check for these signs below that suggest this pricey move is essential.
1. It’s a seller’s market
A seller’s market is when there are more home buyers than sellers—meaning demand outpaces the supply of homes for sale. As a result, home buyers in a seller’s market face a tough challenge: Due to increased competition, they often have to act fast and bid high to woo sellers into accepting their offer, says Seth Lejeune, a real estate agent with Berkshire Hathaway in Malvern, PA.