Multiple Offer? Here are some tips!

Multiple Offer? Here are some tips!

You've found the home of your dreams but unfortunately, these days a whole lot of people seem to have the very same dream!

Here are some tips for success in this Sellers' Market where multiple offers on the same property are the norm, not the exception.

1.  Work with an experienced agent who is familiar with the area and knows the other realtors in that area.  Offers that come through someone with a great reputation and good rapport with their colleagues gives you a headstart.

2.  When you get a call to come and look at a property, don't delay.  These days there is a short window of opportunity.  If you want to have a second visit and time to get your ducks in a row, act fast.

2.  Write an offer with as few conditions as possible to make it very attractive.  Make sure you've done your homework by:

     a) Having your financing all lined up with a pre-approval letter from your lender in hand showing that you are a capable buyer that can complete the deal without any hiccups.  A good mortgage broker can run your numbers taking taxes and maintenance fees into account to let you know your "bidding" limits

     b) Bring an inspector with you to your viewing if possible to sort out any possible challenges with the property's condition.

     c) Look at as much the documentation prior to viewings as you can.  Your agent can do a title search for you if one isn't available.  Ask for Strata Documents in advance (most listing agents will have them and if they don't, your experienced agent may well be able to lay their hands on at least some of them.)

     d) Check on insurance costs, proximity of fire hydrants, property conditions to ensure your ability to insure at a reasonable rate.

3.  Enclose a letter with photo (or even a short video!) of you and your family outlining why you love this property and how it so perfect for you.  Sometimes a tug at the heart strings is the deciding factor between two very similar offers.

4.  Go in with your strongest possible offer.  Don't be reckless but it's unlikely you'll get a second chance to win this home of your dreams so give it your best shot.


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