Welcome dear reader to Southern Georgian Bay, home to the hottest seller’s real estate market this area has ever seen! Due to minimal homes for sale, we are seeing homes get listed and sell over asking usually in a bidding war. Voted most likely to win a bidding war, you can rest assured knowing that if I am representing you as my buyer, you have an excellent chance at being the successful offer of your dream home. Today I will outline why sellers hold offers and some of the basics on what you “need to know” when you have multiple offers on offer day in The Blue Mountains.
Insights on Offer Dates
When the seller decides to hold offers off until a certain date, that usually means they want to allow as many people through before reviewing offers. Obviously, they are trying to shake as many trees as possible so that they see more than 1 offer on offer day. If the home is well priced, chances are that you may find yourself in a multiple offer situation AKA a bidding war, against other hopeful buyers on offer day. The seller’s agent lets any realtors who have gone through the home know the offer process which includes what time offers are to be submitted or registered by and what time they will present the offers to the seller. Once offers are registered the seller’s agent lets the other agents know how many have been received. Once we hear the final number of offers, the sellers’ agents usually give all buyers a chance to improve their offer. Once all offers are in, the waiting game starts.
Be well prepared
If you know your top line and are well prepared there is no reason to fear a bidding war no matter how many offers come in. I won’t give away my trade secrets as then others will learn how to “win” aka be the successful offer. Suffice to say I have a lot of strategies and resources at my fingertips to ensure you feel that competing in a multiple offer situation after being fully prepared will net you the home of your dreams. I am here to walk you through the process of making an offer on offer day in the Blue Mountains, outline what you can expect, review the agreement of purchase and sale and any accompanying schedules. I will research the property history. I will work with your mortgage broker to ensure your financing is in order, and work with your lawyer should you need to review status certificates if you are buying a condo. Together we will review the pros and cons of conditions, determine an offer price so that you go into the offer with full confidence knowing you are not going over budget or offering from a place of fear.
As your local realtor, I will do all I can to ensure your offer is THE Successful offer. When it comes to multiple offers on offer day in The Blue Mountains, I am here to help answer your questions and concerns! Looking for your dream home? Check out my services for buyers to get an idea on what I offer. Or if you are a seller, check out my selling services & contact me to begin a discussion on the listing process.
Check out my quick Youtube Video on Multiple Offers on Offer Day in The Blue Mountains below & share with any friends or family who may be interested in buying during this market, or selling their home in The Blue Mountain area as they may be dealing with bidding wars!