How to stay calm in a bidding war

A bidding war can be stressful. Bids come by text message, the price goes up fast, and you have minutes to decide.

Prepare your number

Before the bidding starts, decide your maximum. Base it on what similar homes really sold for, and on what you can afford each month.

Prepare your partner

If you buy together, agree on the maximum before the bidding. Not during.

Prepare your bank

Have your loan promise ready, and know its limit.

During the bidding

• Do not bid in a hurry. Take a breath.
• Small steps are fine. You do not have to jump.
• When the price passes your maximum, stop.

After the bidding

If you lose, it is not a failure. There will be other homes. If you win, check that you are still within your plan.

Why practice helps

When you know what homes really sell for, a high bid does not scare you and a low price does not surprise you. You can see if a price is reasonable in seconds.