Are you hunting for a home in a market where inventory is low and there's often a bidding war for properties in your price range?
Follow these key tips to maximize the chance that you will close at the end of the day.
1. Treat your hunt seriously.
House hunting must be your priority, not your weekend hobby. Check new listings regularly, be prepared to drop everything to view a home when it hits the market, and be ready to make a quick decision.
2. Bring paperwork, not promises.
Want to be taken seriously by the seller? When you visit homes, provide a mortgage pre-approval letter or a "proof of funds" form from your bank showing you won't have any issues with financing and have enough to cover the down payment.
3. Consider waiving what-ifs.
Homebuyers often include contingencies when making an offer so they won't lose their deposit if, for example, the home doesn't pass inspection. Waiving contingencies could help you close a deal, but this definitely is not a move for the faint of heart. To gauge your risks, consult your Realtor and see the best way to ensure your offer is strong without putting yourself at too much risk.
4. Don't play hardball.
This isn't the time to try to lowball on price. Bid aggressively yet confidently while still staying within a monthly budget you can afford.
5. Widen your search.
You will increase your chances of finding a property if you're willing to consider homes outside your ideal neighbourhood and houses that may need some remodelling or renovations.
When you find yourself in a seller's market, much like right now in March of 2023, being prepared mentally and financially is a huge advantage.
If you want to come out on top when there are multiple offers, it's imperative to have everything ready to go and heed the advice from your Real Estate Professional. We are here to do provide you, the client, a top notch, dependable service.
Questions?
Want to get started?
Want to get started?
Fill out the form below and I'd be happy to reach out.
Leave A Comment