4 Keys to Success with Multiple Offers
In today's Victoria Real Estate Market, it seems like there are competive offers on all the good properties. It can be extremely frustrating for buyers! Here are 4 Key Strategies for getting your offer accepted when you're in competition. It often needs to be an unconditional offer, so here's how to reduce your risks with that move:
1) Due Diligence up front - that means go to the municipality, schedule an inspection (or at the very least check out components like drains, wiring, plumbing, attic (for asbestos/vermiculite), foundation & roof). Get it done before offers are due.
2) Work with a Mortgage Broker - In this market, you need to have a good mortgage professional on your team - not someone who works M-F 8-4. They can let you know whether it's safe to make an offer without a financing condition or call the Seller's agent and tell them first hand that you've been pre-qualified for a purchase in this price range.
3) Offer Price - properties may be purposely priced low to attract more interest. Your real estate agent can help you determine what the actual market value is for the home. Price is super important in a competitive situation when all the offers are unconditional. Make sure your offer is enough over the asking price to give a good gut punch impression.
4) Compelling Sales Pitch - if the Sellers have created a beautiful home, let them know why you should be the next owners. Tell them why you love it and how you will take care of it.
When up against a multitude of offers, there are no guarantees but these strategies can make all the difference in this HOT Market!! Good luck!