Source: CNN/Money –
In many hot housing markets, bidding wars have been breaking out on a regular basis – and some house hunters are getting beaten out time and again. But it’s not always about who has the most money. Sellers will accept lower offers if it means less hassle.
“What sellers really don’t want to do is waste time,” said John Walsh, president of Connecticut-based lender, Total Mortgage. That means getting pre-approved for a mortgage and having all your paperwork — your pre-approval, proof of income, work history and bank statements — in hand. It also helps to have your lender at the ready so you can act fast.
But first you have to beat out all of those other bidders.