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The Art of War and your real estate transactions

"Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat."  - Sun Tzu, The Art of War

There are lessons in the real estate market to be learned from the book The Art of War and its author Sun Tzu. This may prove especially true when completing a real estate transaction or competing in a bidding war. According to some markets, the bidding war is back due to constricted availability and increased demand due to low mortgage rates.

Where Tzu's advice comes to real fruition is with those buyers talking to lenders while looking for homes. The more financial documents you have lined up and completed prior to making a bid, the more likely a seller may be willing to bite, even if your bid is a bit lower than another. Having strategically set yourself up as a viable option to meet their criteria, you have tactically maneuvered yourself into a position of winning the bid.

Those who look to buy, whether residentially or commercially, prior to having finances sorted, may lose out on bids due to looking like more of a risk to finalize. Sellers want a sure bet rather than missing out on an opportunity to sell. Therefore, setting yourself up beforehand for a strong preapproval may prove to be the key to a quick and fairly pain free real estate transaction.

If you need assistance in strategically planning what tactics you will take in your real estate transactions, it is always a good idea to contact an attorney who practices in that area of law. They can assist you in drafting and reviewing documents as well as ensuring that all your documents are in order prior to purchase or sale.

Source: MercuryNews.com, "Real Estate Watch: How to win a bidding war on a house," Donna Fuscaldo, Jan. 10, 2013

  • If you are in need of more resources in order to better understand how Maryland real estate law affects residential or commercial real estate transactions, please feel free to take a look at our website.

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