In a sellers' market: 3 ways for buyers to win a bidding war

"Surprise" its a sellers market....

 
so you have finally found the perfect home, you instruct your agent to prepare the offer, and  have orchestrated the perfect negotiating strategy, only to hear that there are other competing offers.....now what?
 
1.)Money is not everything..
 
Money is a large part of the process, however most sellers and listing agents want a simple and strong offer, meaning the least amount of conditions, a quick closing and strong financial backing along with a good deposit, say 5% of purchase price, this shows the sellers that you are serious, and less likely to play games.
 
2.)Make the sellers like you and your agent, 
 
Have your agent discuss a bit of your history in a attempt to have the seller relate to you, as well understand the sellers point of view, this helps in showing that the buyer is committed to the offer and does not come off as some other agents submitting insensitive offers with no substance and meaning.
 
3.)Pay what the property is worth to you, 
 
Put your best foot forward, I took a client out to see three homes, the buyer had to leave town for a few days and upon return all three homes had offers and two of them had multiple offers, that is the Toronto Real Estate market currently.
 
The best advice for buyers is "Be Ready" have your financing/pre-approval ready, along with deposits, lawyers, and inspectors.....
 
Ash Chopra

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Ash Chopra

Ash Chopra

Broker
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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