Springtime Market is here and although it's still cold outside, the spring market seems to warming up fast ! It's presently a Sellers Market. What does this mean to you as a seller? It means that if your home is properly priced using comparable properties that are simular to your home and location, your home should sell much faster than it would in a buyers market. It also greatly increases the chance of seeing multiple offers on your property!
All good news for the seller!
It's a nice position to be in and increases your chances of getting offers that are above your asking price and often come with less conditions, making the offers more attractive and firm.
For buyers, of course this means more competition. This can add extra pressure that you need to be prepared for ahead of time in order to secure the property and home that seems to be the perfect fit for you.
What can you as a buyer do to increase your chances, even when faced with several registered offers on the property you are offering for?
1. Talk to your lender! Get pre approval so that you know Exactly what you can afford! Ask them about 'bridge financing
2. If you are not a first time buyer, start with preparing your home for listing! It's a lot easier and more comfortable knowing your home is either Ready For Sale, Up For Sale or SOLD.
3. Understand the market and the location you are looking to buy in. Your realtor can help you with this by providing you with updates and history on the market area you are interested in.
4. Understand the comparable Solds and Actives in your market area and develop a comfort range of value from minimum to maximum that YOU would be prepared to offer.
5.Discuss scenarios and strategies with your realtor. Understand which clauses best suit your offer while protecting you at the same time.
6. Develop a Stategy with your Realtor that includes pre-prepared counter strategy by trying to anticipate various scenarios you may be faced with.
7. Remember. A fair offer with the least amount of clauses and a reasonable deposit, is easier for a seller to accept and understand.
Having an realtor that understands and has experience in these situations is also a great way to prepare!
Its also the best way to enjoy the experieince and increase your chances of getting what you want for the best value and the least amount of stress.
Enjoy your spring! Call us if you need our help.
Rola Merhi & Dave Campbell
Century 21 Miller Real Estate Ltd. Brokerage
467 Speers Road,Oakville, ONL6K 3S4
Mobile (Rola): 905.467.9051
Mobile (Dave): 905.330.8603