Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker/Owner
Trinity Real Estate Consultants
647-697-6743
matthew@searchhomesingta.com
2020 will go down as one of the most difficult and unexpected years in history, of course, because of the global pandemic. Even so, the real estate market favoured sellers due to lower interest rates and high household savings. Compared to the previous year, home resales increased by 13%, reaching 552,300 – the most ever (Zochodne). This trend also appears to increase in 2021 and, perhaps, beyond. As a buyer, you expect to encounter a “multiple offer” situation. Thus, you would want to know how you can increase the odds of winning a bidding war to own your dream house.
Real Estate Bidding War Winning Strategies
As much as you want to avoid multiple offers and bidding wars, the prevailing market conditions are on the side of sellers. Take the first month of 2021 as an example. Sales increased by 35.2% compared to 2020 (. ...