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Future Heterogeneous wireless network (HetNet) will foster cognitive Vertical Handover (VHO) to exploit the ubiquitous diversity which is defined as seamless transfer of a session between different Radio Access Technologies (RATs). Classical VHO mechanisms lacks to expedite the effect of spectrum sensing for network selection which greatly affects the Quality of Experience (QoE) of both Access Node (AN) and Mobile Node (MN). Therefore, Paper proposes Error Vector Magnitude (EVM), which measures error in modulation quality and characterizes neighboring ANs. To maximize the overall network resource utility, EVM based multi-tenderee bidding model is proposed which utilises cooperative game theory. Performance is compared with classical MADM bidding model in terms of network bid value and total HetNet payoff. Results show that EVM based bidding increases the payoff by ~ 49.3% when compared with classical MADM bidding model.