3 stories on how to win in a multi-bidding war on Boston condos for sale

Introduction

Boston condo bidding wars are not as common as much as they use to be. However, they still happen even in today’s 2019 Boston condo for sale market. I find this to be true especially in the low end of the market $500,000 and under.

With the supply of affordable Boston condos for sale so low, many buyers are dealing with multiple offer situations which can be a very uncertain, un-settling situation. A while back I worked with two couples and a single guy buying downtown Boston condos in multiple-offer deals. Here are their stories along with tips that may help you remain calm and carry on in tense, multiple-offer situations. The bottom line is to remember that there are things you can do to make your offer more desirable. Since every situation is different, it’s vital to have a knowledgeable Boston downtown real estate broker on your side to recommend strategies to gain the attention of the sellers and end up winning the Boston Seaport condo of your dream.

Story #1 – Boston condo bidding war

A wonderful, young couple I worked with found a great home in Boston Beacon Hill for sale – this Beacon Hill condo for sale was within their price range in a neighborhood popular with Millennials. We knew there were several offers already submitted for well-above asking price. After carefully reviewing the comps, we offered $20,000 over the asking price, a seven-day due diligence period, and for the cherry on top, willing to put down 20% and the signing of the P&S. By making these bold moves, we were able to win the home for the buyers.

Tip #1 – Offer to shorten due-diligence, which sellers prefer, and increase earnest money to show you’re serious. It’s a good way to grab the Sellers attention.

Story #2 – Boston Midtown condo

My buyers really wanted to live in a Boston high rise condo, a very desirable neighborhood next to the T. We looked at a Boston high rise condo that was, unfortunately, under contract as of the day we visited—and only two days after going on the market. Also unfortunate, it was the perfect Boston Midtown condo for my clients. They were so disappointed! However, I guess it was meant to be because the contract fell through and the Boston high rise condo came back on the market. As soon as that happened we jumped on it, put in an offer for full asking price, short due diligence period. The sellers were thrilled and we won the sale!

Tip #2 – Never give up on the perfect Boston condos for sale until the sale is officially closed. Be ready to act fast! So many things can cause a sale to fall through and you can swoop in with a new contract.

Story #3 – Charles River Park condo for sale

This story is a testament to how hot our Boston condo for sale market is. I had a single gentlemen in the medical field, looking for a Charles River Park condo for sale and we kept missing out on opportunities. We’d tour a Charles River Park condo and immediately following we’d find out it was going under contract. The buyers were so discouraged. So, I got proactive and reached out to my network of real estate agents active in the area and asked them to let me know about any upcoming properties before they were formally listed. We were finally able to find a home that met all my clients needs and in the area they wanted.

Tip #3 – You have to be inventive, proactive, and aggressive when shopping in a seller’s market with low inventory. Think outside the box!

Conclusion

The ending of all these stories are happy, thankfully. However, I know there are lots of frustrated Boston condo buyers out there. If you need some help in your downtown Boston condo hunt in this tight market, let me know. I love helping singles & families find a home they love in the neighborhood they desire, and I’d love to help you too!

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Unlike other Boston condo brokers we give back 50% of our portion of the commission to YOU the buyer.


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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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