If you’re considering buying a home in cities like Rotterdam, The Hague, or Amsterdam, you’ve likely heard about overbidding. The housing market in these areas is competitive, and it’s common for properties to sell above the asking price. But is overbidding always necessary? The short answer: No, it isn’t – especially when you work with a knowledgeable buying agent like M&D Real Estate.

In this blog, we’ll dive into how overbidding works, when it’s necessary, and how working with the right buying agent can actually help you avoid overpaying for your dream home.

What is Overbidding?

Overbidding refers to offering a price above the listed asking price for a property. In hot markets like Amsterdam, Rotterdam, and The Hague, it’s not unusual to see homes sell for 10%, 20%, or even more above the initial listing price. This trend is driven by several factors, including:

•High demand and low supply: More buyers are competing for a limited number of homes.

•Emotional decisions: Buyers fear missing out (FOMO), leading them to overbid in an attempt to secure a property.

•Underpriced listings: Some sellers list their properties below market value to attract multiple offers, encouraging bidding wars.

However, overbidding isn't always necessary, and there are smarter strategies to approach the market without overpaying.

Why Overbidding Isn’t Always Necessary

While it may seem like overbidding is the only way to secure a property in Rotterdam, The Hague, or Amsterdam, that’s not always the case. In fact, M&D Real Estate often secures homes for our clients at or below the asking price. How do we do it?

•Market Knowledge: Our expert buying agents have deep insights into the local markets. We know how long a property has been listed, how it’s priced relative to market trends, and how much interest it’s generating. This allows us to determine whether overbidding is necessary or if there’s room for negotiation.

•Analyzing Demand: Not all homes attract the same level of attention. We closely monitor the interest in a property, including how many viewings have been scheduled and whether it’s being marketed aggressively. Some properties may look like they're in high demand, but with our analysis, we may discover opportunities to bid lower than expected.

•Skilled Negotiation: At M&D Real Estate, we take pride in our negotiation skills. We negotiate on behalf of our clients to ensure they get the best possible deal, often without the need to overbid. We focus on presenting a strong, fair offer that is backed by thorough research, which can be more appealing to sellers than simply offering more money.

•Understanding Seller’s Motivation: Not all sellers are looking for the highest price. Some may prioritize a quick sale or specific conditions (such as flexibility on the move-in date). A good buying agent will understand the seller’s needs and position your offer accordingly, which can give you an edge over other bidders.

When Overbidding is Required – And How We Help

In some cases, particularly for properties in highly desirable neighborhoods or unique homes, overbidding may still be necessary. However, with a good agent on your side, you can be sure you’re not overpaying more than necessary. We help our clients by:

•Assessing the True Value: We conduct a thorough valuation of the property and its market potential. This ensures you know exactly what the home is worth and can make an informed decision about how much to offer.

•Setting Limits: We help you establish a clear budget and maximum bid so that you don't get caught up in a bidding war and spend more than you're comfortable with.

•Strategic Offers: In competitive situations, we craft a strategy that makes your offer stand out – without necessarily being the highest bid. This might include offering better terms, a quicker closing, or more flexible conditions.

How to Avoid Overbidding: Work with M&D Real Estate

The key to avoiding unnecessary overbidding is to work with a buying agent who understands the market and has a proven track record of securing homes for the best price. At M&D Real Estate, we pride ourselves on helping clients navigate the complex housing markets in Rotterdam, The Hague, and Amsterdam without overpaying.

Our clients trust us because we:

Frequently secure homes at or below asking price.

Use our expertise to analyze the market and the property’s true value.

Negotiate smartly to get you the best deal.

Guide you through every step of the buying process, ensuring you never pay more than you should.

Ready to Buy Your Dream Home?

If you’re looking to buy in Rotterdam, The Hague, or Amsterdam, let M&D Real Estate be your guide. Our team of expert buying agents will work to ensure you get the best deal possible – without the need to overbid.

Contact us today to schedule a consultation and take the first step toward securing your dream home!

When buying a house in the Netherlands, there are a few benefits, tax deductions, and allowances you might be eligible for:

Mortgage Interest Deduction

The interest you pay on your mortgage is tax-deductible, which means you can deduct it from your taxable income. This can significantly reduce your tax bill, making owning a home more affordable.

National Mortgage Guarantee (NHG)

If you're buying a house under a certain price limit (around €355,000 in 2023), you can qualify for the National Mortgage Guarantee. This offers protection in case you're unable to pay your mortgage due to, for example, job loss or divorce. It may also result in a lower interest rate.

Transfer Tax Exemption (Overdrachtsbelasting)

First-time homebuyers under the age of thirty-five can be exempt from paying the 2% transfer tax if the house costs less than €440,000 (in 2024). If you're over thirty-five or not a first-time buyer, you still need to pay the 2% tax.

Loan for Energy-Efficient Renovations

If you plan to make your new home more energy-efficient, you might be eligible for subsidies or low-interest loans for energy-saving measures like insulation, solar panels, or heat pumps.

Tax-Free Gift (schenking voor eigen woning)

You can receive a tax-free gift from parents or others for purchasing a house. In 2023, this can be up to €28,947 for those under forty (but this rule is expected to change in 2024, so it's good to double-check).

Want to know more about this allowances and tax cuts? Contact us today!.

In the Netherlands, the statutory cooling-off period of three days for the buyer of a house begins when the purchase agreement (also known as the purchase contract) has been signed by both parties and handed over or sent to the buyer. During this cooling-off period, the buyer can cancel the purchase of the home without giving any reason. The reflection period starts on the day after the buyer has received a copy of the purchase agreement signed by both parties.
Keep in mind that the weekends counts as one and dutch holiday’s do not count.
Want to know more and get in touch with a realtor, reach out to M&D Real Estate!