Archive January 2013

Multiple Offer Situations

Multiple Offer Situations

January 8, 2013

It’s easy to simply back out of a home you would love to make an offer on because you’ve been told there is other interest, but is that what you really want? It doesn’t have to be a taunting situation if you are prepared, you have a good Real estate Agent and you truly love the home.

1. Ensure you are financially secure beforehand. Perhaps you’ve been pre-approved by a mortgage broker and/or you’re not depending on the sale of your current home as a subject.
2. Know who your other Buyers are and have your Real Estate Agent check out the competition.
3. Perhaps have an inspection done so you don’t need to include it in the Subjects and your offer will look much stonger to the Seller.
4. Most importantly, ensure you know where you stand with budget. Decide on a number you will be happy with and one you wouldn’t be happy with. In the end, if you lose the home over $2,000 you will be able to sleep at night.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Kamloops Real Estate Board.

Trademarks used under license from CREA.
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