Jeni VanOrnum | Real Estate Insights & Education

While bidding wars are less common in 2024’s balanced market, they still occur on well-priced Douglas County homes. I’m Jeni VanOrnum, your local real estate agent, sharing strategies to help first-time homebuyers win competitive situations.

Get Fully Pre-Approved

Pre-qualification letters don’t compete with pre-approval letters. Full pre-approval means underwriting has reviewed your complete financial picture. Sellers trust these buyers will actually close. Use reputable local lenders whose names Douglas County listing agents recognize and trust.

Write a Strong Offer Price

In competitive situations, coming in under asking price won’t work. Offer asking price or above if comps support it. I can analyze recent sales to determine fair value. Strategic pricing wins deals without overpaying.

Increase Earnest Money

Standard earnest money is 1-2% of purchase price. In bidding wars, offering 3-5% shows commitment and provides sellers financial security. You get this money back at closing (it applies to your down payment), but larger deposits demonstrate seriousness.

Limit Contingencies Wisely

Don’t waive inspections entirely—too risky. But shortening inspection periods from 10 days to 5-7 days, or offering “informational only” inspections (you inspect but won’t ask for repairs beyond safety issues) makes your offer more attractive while protecting you.

Flexible Closing Timeline

Match the seller’s preferred timeline. If they need to close quickly, offer 21 days. If they need time to find their next home, offer 45-60 days or rent-back agreements. Flexibility often matters more than a few thousand dollars.

Appraisal Gap Coverage

In competitive markets, offer to cover appraisal gaps up to a specific amount. This assures sellers that if the appraisal comes in low, you’ll bring additional cash rather than renegotiating price. Only do this if you have extra funds available.

Write a Personal Letter

Some sellers connect emotionally with buyers. Write a brief, genuine letter about why you love their home. Don’t overshare—keep it about the property and neighborhood.

Work With an Experienced Agent

Your agent’s reputation matters. Listing agents prefer working with professional buyer’s agents known for smooth transactions.

Compete Smart

Ready to make competitive offers? Contact Jeni VanOrnum today. I’ll help you win without overpaying.