Offering over asking price can make even experienced home buyers shudder. But paying more than a seller's asking price can make sense for some home buyers. So, when should you aim high? Check out these 5 times offering more than asking price might be the right decision.
1. You Can Afford to Pay Over Asking Price. Remember that the home still has to be appraised for the asking price if you're getting a mortgage. Otherwise you'll be stuck paying for anything above that amount.
2. It's a Seller's Market. A seller's market is when there are more home buyers looking for homes than there are homes on the market. It's also a good idea to be pre-approved for a home loan and be ready to act quickly when you find a home you want to make on offer on.