When you’re buying a home for sale in Ellicott City, Owings Mills or another community in the area, there’s a good chance that you’re not the only interested buyer.
In fact, there could be multiple people scrambling to put together an offer at the same time – and when that happens, the seller gets to pick a winner.
Facing a Bidding War for Your Dream Home? Here’s What You Need to Know
When multiple people make offers on the same house, it can lead to a bidding war. That’s what happens when your agent lets you know someone bid $250,000 and you want to put in a higher offer. Let’s say you then offer $275,000 – but another interested buyer comes in and says he or she will spend $280,000.
So what can the seller do?
The seller can accept one offer, counter all the offers, counter some of the offers, reject some of the offers… the point is, the ball is in the seller’s court. He or she is going to pick the most advantageous offer most of the time (although sometimes sellers pick offers that make them feel good, like those that come with letters complementing the home – but that’s another post for another day).
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Terms like contingencies, preapproval letters, appraisal requirements for the type of loan each buyer is getting, and closing time frames can all have an impact on which offer the seller ultimately accepts.If you end up in a situation like this, your best bet is to talk to your REALTOR(R) about what to do next. He or she will give you insight on what you can do to make sure yours is the one the seller accepts – or give you guidance about moving on to another house, if that’s the way it works out.
Are You Buying a Home in Ellicott City?
If you’re ready to buy a home for sale in Ellicott City, we can help you find the right one.
Call us at 410-465-5822 to tell us what you want from your next home or to schedule a tour in a home you’ve seen online.
Use these links to check out the hottest listings:
- Ellicott City homes for sale
- Columbia homes for sale
- Catonsville homes for sale
- Pikesville homes for sale
- Owings Mills homes for sale
$914,900
4953 Ellis Lane Ellicott City, Maryland
4 Beds 4 Baths 4,500 SqFt 0.470 Acres
Listing courtesy of Monument Sotheby's International Realty
$795,000
2311 Ridge Tree Court Ellicott City, Maryland
4 Beds 3 Baths 3,181 SqFt 0.670 Acres
Listing courtesy of Coldwell Banker Realty
$459,000
10421 Resort Road G Ellicott City, Maryland
2 Beds 2 Baths 1,554 SqFt
Listing courtesy of NVR Services, Inc.
$925,000
8013 High Castle Road Ellicott City, Maryland
5 Beds 5 Baths 4,650 SqFt 0.160 Acres
Listing courtesy of Long & Foster Real Estate, Inc.
$775,000
5066 Bonnie Branch Road Ellicott City, Maryland
4 Beds 3 Baths 2,550 SqFt 1.860 Acres
Listing courtesy of RE/MAX Advantage Realty
$949,990
9891 Carrigan Drive Ellicott City, Maryland
4 Beds 5 Baths 3,947 SqFt 0.460 Acres
Listing courtesy of Keller Williams Lucido Agency
$899,900
3004 Katherine Place Ellicott City, Maryland
4 Beds 4 Baths 3,112 SqFt 0.140 Acres
Listing courtesy of Redfin Corp
$775,000
3741 Grosvenor Drive Ellicott City, Maryland
5 Beds 4 Baths 4,720 SqFt 0.330 Acres
Listing courtesy of Maryland Real Estate Network
$865,000
5325 Montgomery Road Ellicott City, Maryland
5 Beds 4 Baths 3,018 SqFt 0.350 Acres
Listing courtesy of Maryland Real Estate Network
$625,000
4033 Jay Em Circle Ellicott City, Maryland
4 Beds 3 Baths 1,620 SqFt 0.460 Acres
Listing courtesy of Samson Properties
$700,000
9118 Dunloggin Road Ellicott City, Maryland
4 Beds 3 Baths 3,343 SqFt 0.710 Acres
Listing courtesy of Keller Williams Lucido Agency
$775,000
10213 Camelford Court Ellicott City, Maryland
4 Beds 3 Baths 3,019 SqFt 0.380 Acres
Listing courtesy of EXP Realty, LLC
$419,900
8538 Pine Run Court Ellicott City, Maryland
4 Beds 4 Baths 1,940 SqFt 0.100 Acres
Listing courtesy of Samson Properties
$475,000
2530 Kensington Gardens 303 Ellicott City, Maryland
3 Beds 2 Baths 2,280 SqFt
Listing courtesy of EXP Realty, LLC
$1,975,000
10360 Kingsbridge Road Ellicott City, Maryland
7 Beds 7 Baths 6,564 SqFt 3.040 Acres
Listing courtesy of Corner House Realty
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