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With Errol Scott
101
Making Offers in a Competitive Market You’re a first time home buyer or one of the many who are making the move to Western Canada. You are prepared to make your first bid, and your realtor advises that you’re in competition: there are multiple offers being made on your dream property. What do you do?
Here are some tips that may put you in the best position for success. 1.
Ensure that you have an effective
business days in a normal market
and agile mortgage broker. What that
scenario. If you are able to condense
means is, when you are in a position
this to a 5 day window, your offer
to make an offer on the property that
appears more appealing.
you have identified, they are able to have a shorter financing condition
3.
Consider increasing your deposit.
window for you. This makes your
Typically a buyer would aim for a
offer more attractive to sellers.
5% deposit- this equates to $20,000 on a $400,000 home. If you are able
2.
Select a reputable home inspector
to make a higher deposit, which is
ahead of time that can get into the
refundable, it allows you to stand out
home fairly quickly. Typically for
against the competition.
conditions, one can anticipate 7-10
