After weeks of looking you have finally found a Windsor property that you can call your own! You are ready to write an offer, but have learned that other offers are also forthcoming. In a buyer’s market, this usually happens when a home is priced right or just below so it will attract many offers. So what do you do when you know you have some stiff competition?
1. Have a pre-approval letter included in your offer. This shows a seller that you are serious, qualified and ready to buy. This letter speaks volumes and can mean the difference between your offer being accepted, even if it’s not the highest bid.
2. Hire a professional, well-experienced real estate agent. When you make an offer on a Windsor property that is attracting much interest, then you want an assertive agent that will get the ball rolling. An agent knows when to get moving to make sure that your offer is received immediately. You don’t want an agent that will take his or her time.
3. Make a respectful offer. The last thing you should do is set a negative tone in your offer that can upset the seller. Don’t ask for items that a seller would not normally provide nor be unreasonable on your closing date.
4. Write your best offer. When a seller is entertaining lots of offers, this is not the time to make a low offer, as it simply won’t be considered. Make sure you write an offer with your best possible price as chances are, you will only get one chance to make that valuable first impression on a seller.
5. Larger deposit. Make sure that you show a seller you are serious by putting down a healthy deposit. If you are seriously committed to the Windsor property, then this will speak volumes to a seller.
6. Write seller a letter. This has been discussed before on this site, and often, sellers appreciate this gesture. Let them know why you love the home in a nice, handwritten letter. Will it work? It doesn’t hurt.
7. Offer to close sooner rather than later. The majority of sellers prefer to close within 30 days. If you can offer this, then do! Of course, if you can do it sooner and you know the seller would respond favourably to this, then go for it!