When you are buying a home and are convinced you are just one in several offers, there’s a little trick you can pull out. When you write the offer, put in that you are willing to go $1,000 more than the highest bid!
When there is strong interest in the home from a buyer, their agent will contact the listing agent to inquire if the home is still fully available. If the listing agent indicates that they have an offer or suspect they will have an offer momentarily, the buyer’s agent may recommend an escalation clause as an advantage over the competition. An offer may be submitted for full price, with a $1,000 escalation clause over other offers until a capped amount.
Absolutely cap the amount you want to offer, though!