March 18, 2012
With the reappearance of high buyer activity and prices which are escalating day in day out in Vancouver’s high real estate market, sellers are on the gaining end. High demand and insufficient supply leads to multiple offer situations which is a common phenomenon in real estate market.
Many home buyers table a bid on an appropriate house within their price range, only to realize that there are contending offers. This leaves the seller with an option to decide the best offer.
If you are sure about a property you want, you will want your bid to be accepted straight away. These few tips on how to beat the competition in multiple offer situation in Vancouver will ensure your offer get picked.
By hiring a Vancouver real estate agent, you place a professional in the field to represent you. The realtor has access to the listing information immediately when placed on the professional database which becomes available to the public later on. You just let him or her know your preferences and what to do in multiple offer situations. This way, the realtor will be able to act swiftly than you could if you searched independently thus submitting your offer ahead of your competitors.
Paying higher than the requested price
This should be done if the market research supports the higher pricing-which is a usual occurrence in Vancouver real estate market. Any seller will tend to accept the highest bid, a sure way to beat other buyers. You live with the satisfaction that you acquired what you really wanted.
Offering a higher deposit or paying immediately
A deposit assures the seller that you are serious about buying the Vancouver property. Therefore, the seller is more likely to turn down other buyers as they may not have upfront or large deposits. In addition, a bird in hand is worth two in the bush, thus cash in hand is more valuable than a later date payment. This will effectively prompt the seller to heavily consider your bid, beating several others.
We have many other strategies which we can share with you and have over 40 years of combined experience. Call us today and we can help you for FREE of charge: 604-767-3703.