Editor’s note: This post was originally published in July 2024. The example scenario below uses appreciation and payment figures that were accurate at that time — the underlying math still holds, but if you want current numbers for your own situation, I’m happy to run a personalized analysis.

In my post How to Improve Your Odds of Getting YOUR Offer Accepted, I touched on understanding the numbers behind bidding wars, low appraisals, and commissions. It’s worth exploring in more detail — you may be surprised that bidding above list price doesn’t affect your payment as much as you’d think, since the added cost is amortized over the life of a typical 30-year mortgage. [Read more…]