Multiple Offers

Great situation to be in as a Seller. Not so much fun as a buyer but there are ways you can improve your odds of winning should you happen to be competing for your new home. Pre-inspect the property with your home inspector. Get pre-approved financially. Pre- read all the strata minutes, by-laws & financials if you are looking at a condo or townhome. Find out how many offers there are. What time are they being presented. What dates does the seller need/want? Does the listing agent have their own offer? If there are several offers the property usually sells for at least the asking price; many time higher than asking by 5%-10% or more. Decide whether you are comfortable writing an offer without subjects and be prepared to have a substantial deposit in hand by way of certifed cheque or bank draft. Trust your agents knowledge & instinct make your offer as strong as possible.  "Cash" no subject offers always get first priority (even if they are a bit lower than a subject offer), subject to inspection or financing secondly & subject to the sale of another property last.  We have 'won'  most mutiple offer situations on behalf of our buyers and successfully negotiated much higher prices for our sellers as well. It's a sellers market for now and looks to stay this way as long as inventory is low and demand is high.