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Making an Offer in a Competitive Market - Tips from your local Cloverdale Real Estate Specialists

Posted on February 22, 2017 by Bettina Reid

Making an Offer in a Competitive Market - Tips from your local Cloverdale Real Estate Specialists

Imagine finding a home you love, making an offer, and then finding out there are other competing offers on the table. Ouch.

If you’re looking for a property in a competitive market, it is likely that there will be multiple offers. Even just one can create the risk that you’ll lose the home. So how do you make sure your offer is enticing enough to win over the seller? Here are some ideas:

Don’t make a low-ball offer. If you do, it might be dismissed and you probably won’t get another chance to bid — especially if the other competing offers are near the listing price.

Have a pre-arranged mortgage and include that with your offer. This reassures the seller there won’t be any money issues. (Most lenders will provide you with a pre-arranged mortgage certificate for this purpose.)

Go in with a price high enough that the seller will be interested, but not so high as to be leaving money on the table. This is tricky and requires a savvy knowledge of the current market.

Have a REALTOR® present the offer on your behalf. A REALTOR® will know how to do so professionally, and in a manner that gives you the best chance of getting the home.

In a competitive situation, working with a REALTOR® who is an expert on the local market — and a skilled negotiator — is crucial.

Looking for a REALTOR® like that? Call today.

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"Zach from Balance Real Estate Group sold our moms town home in Surrey in September, closing in November. He was very patient with a senior widow, going into great lengths to explain the selling process and listed out all the possible expenses related to a sale with a specific sale price in mind. As we didn't live in Surrey we could rely and trust Zach for the information he provided. With a couple of offers going sideways, Zach provided continue encouragement and worked hard to find a new buyer. The logistics around the actual sale were challenging but Zach worked hard to make it all happen. He remained in contact with both our mom and us to make sure we all had the needed information. Thank you Zach, we really appreciated your hard work. My mom in law will highly recommend you to anyone looking to buy or sell."

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.