QUICK TIP: Bidding on a home

SAN FRANCISCO (KGO) -- Do you know the secret to bidding on a home? Michael Finney has another 7 On Your Side Quick Tip for you!

First, your bid should be based on reality, not what you want to spend -- consider what the home is really worth. But don't be overly generous -- as a matter of fact, bid just a little less than what you should actually pay.

Consider making your bid an unusual number. That way it will stick out from the crowd and the seller may think, "What does he know that I don't? How did he come up with that number?"

Be ready to justify your bid. Does the house need some repairs? Is the backyard in need of some work? If you can explain that to the owner, you have a good chance of winning that bidding war.

And finally, never fall in love with a house -- always be ready to walk away... otherwise, you'll only make a bad deal.



Take a look at more stories and videos by Michael Finney and 7 On Your Side.

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