How To Avoid A Bidding War
Home buyers are finding the current market conditions challenging with over a third of homes selling for full price or better. Last week we talked about how to win a bidding war - so watch that video. Today - I want to talk about looking were others aren’t.
- Strategic Low-Ball - even though the overall market is hot there are homes currently for sale that have been on the market for as long as 6 months. We can look for stale homes above your price range and make a strategic low-ball offer.
- Move & Renovate Homes - the move-in ready type home is the most popular - if you are handy (or with the help of mortgage+renovation products you can find a diamond in the rough and make it your own.
- Off-Market Deals: there is a whole secondary market of homes bought and sold without signs and advertising. Last week we helped 2 families buy homes that were not even on the market - we have a database of over 1,300 local homeowner who have asked us to call them if we have specific buyer for them. These homes are always “for sale” but never up on public websites
If you are frustrated by the current market conditions - call/text us and we can create a custom plan to get you your dream home
How To Win A Bidding War
The Brantford real estate market is extremely hot right now with many properties receiving multiple offers and selling above asking price. This can be extremely frustrating as a home shopper.
Here are some tips to win.
- Get connected to the real-time database of properties public sites can be 1-2 days behind the real database - and that can mean you are looking at properties that are already sold or have accepted offers on them. Request A Real-Time Search Account.
- Look for a diamond in the rough - not every segment of the market is hot - by looking at home that are not as appealing to the typical move-in ready buyer you will have less competition and be in a better negotiating position.
- If you do get into a bidding war try and remove as many of your conditions as possible to make your offer more attractive. This could mean talking with your mortgage broker about removing financing approval, and possibly removing home inspection conditions, or better yet - if the sellers are holding offers - you could inspect the property before you make an offer.
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