Making an Offer – Multiple Offers

Choices by Virtual Photography Studio
Choices by Virtual Photography Studio

As a home buyer, you have to be prepared to compete with other buyers in a multiple offer situation (where a single property has more than one registered offer). This sometimes happens when the asking price is set below its market value in a seller’s market or when a large price reduction has been issued by the home owner. So what’s the best strategy to be the winner in this situation?

  • We will get you pre-approved for your mortgage so we don’t have to submit an offer conditional on financing.
  • We will perform an inspection before the offer presentation date so we can present an unconditional offer.
  • Provide a large certified cheque deposit with the offer of at least 5% to 10% if you have the funds.
  • Give the sellers the closing date they want.
  • We will present your offer in person and not by fax or email as is done so often today. First, this shows that we are giving your purchase the attention it deserves. Secondly it allows us to meet the seller and deal with any objections they may have with your offer on the spot.
  • We nurture a relationship of trust and respect with the listing agent and build alliances that will make them want to work with us. It is a fact of life that people will do business with people they like and we build those relationships which help you – our client.

Sometimes, when we act as listing agents, we see that the buyer who procures the home in a multiple offer situation has paid tens of thousands of dollars more than the second highest offer. You can rely on our experience, our knowledge and our instinct to try to prevent this from happening to you.

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