PROPERTY BIDDING WAR MULTIPLE OFFERS

PROPERTY BIDDING WAR MULTIPLE OFFERS 2017. 

Toronto and Markham Real Estate News

Take a step back and relax. Realize you are not alone in this bidding war. In this article we will prepare you. Let’s begin.

4 STEPS BEFORE THE PROPERTY BIDDING WAR MULTIPLE OFFERS

1. Pre-Approved Mortgage – Helps you find out your limits so you don’t bid on something out of your reach.
2. Certified Bank Draft – Money talks. How serious are you as a bidder? Let your realtor know they are negotiating with confidence. A certified bank draft of at least 10% of the purchase price means a world in these multiple offer situations.
3. Pre-inspection – Go in with an experienced inspector who can point out some simple tell-tale issues before you make an offer. Imagine putting up an offer but the property has a leak in the basement.
4. Be Ready – Be prepared to move out of your current home in the close future to correspond with their early closing date.

View This Beautiful MARKHAM property.

3 STEPS DURING….

1. Zero Conditions – As a buyer having zero conditions will increase your chances in winning multiple offers. This works in favor of the seller.
2. Follow the Sellers Rules – How bad do you want it? If the seller wants an early closing, accommodate the situation and expect the same when you are selling in the market.
3. Highest Bid – As stated previous money talks in a real estate purchase. Highest bid is crucial to winning.

Other factors include being present during the offer and showing the seller how much this property means to you. Being present during the offer makes it easy because adjustments in your offer will require your signature.

I hope you’re ready for the bidding war. Remember the steps above and hopefully you win your dream home! For more related news you can subscribe to my newsletter!

Stephanie Rebello