The housing market in many parts of Canada (we’re looking at you Vancouver and Toronto) is red hot and to win a home you’ve got to be ready to act big and ready to act fast. Regularly going over asking price by quite a few percentage points, homes are still on the rise—and with the bubble showing no signs of bursting, more and more would-be homeowners can expect to find themselves in a bidding war.
The first thing you need to do is remain calm. The war part is just in the name. Remember your manners.
Speaking of manners, CTV’s experts (in the video above) suggest they’re one of the tools potential buyers are using to woo sellers, reaching out with personalized pleas as to why they should be the home’s next owner. Also high on the list of tips for bidders is having all your T’s crossed and I’s dotted—meaning having your financing in order and your deposit ready.
Oh, and that deposit, you might want to consider doubling it, because that’s also something sellers are noticing in this competitive environment.
Lastly, apart from outright bribing the sellers with lavish fruit baskets, you can make selling to you as convenient for them as possible, which includes getting the home inspection out of the way as early as possible.
Because it’s a hungry market out there.