The market throughout HRM has been hot so multiple offers are very common.
We have been very great success winning for our buyers. We have many strategies that we use and if you choose us as your agent we will use all of these strategies to help you get the home you want.
Below are some of the strategies we use.
Get prepared - Get a pre approved mortgage in writing and have a copy of the letter to provide with your offer. If you are in a lease find out when you can leave. Have your money for your deposit in your chequing account so you can provide the seller with a deposit quickly.
Price ‐ If there are more than one offer on a property someone will usually pay more than full price. If there are many offers someone will usually pay substantially more than full price.
Asking price may not be the market price for the property you are looking at so you shouldn't be afraid to pay more than asking price. Prices are moving fast upwards here is most areas. The agents are having trouble trying to establish what the right asking price is and often they are too low. Market price is what a willing buyer will pay a willing seller. We will prepare a Market Evaluation for you and advise you on what is the highest you should pay for the property.
So if you find the perfect house and are in a multiple offer situation this is what we advise people to do. -Offer the highest price that if you lose the property to a higher offer you are ok with it.
Deposit ‐ higher deposits can win offers especially if there are two identical offers. So put as much money as you can in an account that can be accessed for a deposit. There is no risk of losing your deposit unless all conditions have been met and you back out of the sale. Remember your deposit comes off the purchase price as your down payment on closing so you are just putting your down payment in as a deposit up front,
Closing date ‐ closing date is a huge factor to sellers. They will sometimes take a lower offer if they get the perfect closing date. So we try to find out what closing date the seller wants and try to meet the exact date. So think about how you can be flexible on your closing date
Conditions ‐ fewer conditions win offers as well. We try to structure the offer so you only have the conditions that are necessary to protect you totally but still win. For example we usually ask for the heating costs to be provided approved by the buyer in the offer but in a competing offer we wouldn't.
Heating costs vary drastically from person to person so what the previous owner paid is really not relevant. However if we can get the costs before you write the offer we would do that. They are often readily available.
Inclusions ‐ we advise only asking for what the seller has included or not even asking for those items.
For example appliances. Dishwasher and built in microwaves are always included and so are blinds and curtain rods and hardware all almost always included. If the seller is including appliances that you are going to replace right away anyway we wouldn't include them. The seller can sell these or give to someone in their family so if you are the same as another offer you may win because you haven't
Never include items that seller is not including for example appliances or curtains. This is usually a deal breaker.
If you want an edge in a multiple offer situation you need an experienced agent to help you. We would like to offer you our services.