Walking the shores of Southampton, Port elgin and Sauble beach..<
BIDDING WARS!!!!
Dated: February 16 2022
Views: 35
Multiple offer scenarios requires mortgage to be in place..
TIPS TO WIN A BIDDING WAR!
Are you losing Homes in Bidding wars!
*Step one is to hire a mortgage broker and get pre-approved for a mortgage loan.
*You will have a commitment letter to attach to the offer signifying you are pre-approved to obtain home financing. A commitment letter will set you apart from other offers a seller may be considering.
*Shorten all your time frames for home inspections, mortgage commitment, appraisal contingency dates, and closing dates. Working with the seller to meet their time frames for moving will be a be advantage.
CASH IS KING :
A cash offer eliminates the need for an appraisal and bank approval for a loan contingency. A cash offer shows the seller you are serious about the house and ready to buy it today.
Shorten all your time frames for home inspections, mortgage commitment, appraisal contingency dates, and closing dates. Working with the seller to meet their time frames for moving will be a be advantage.
WRITE A PERSONAL LETTER:
*It is important to sellers that someone will love and care for the home they raised a family in. In a bidding war a personal letter could earn you enough goodwill to move you to the front of the pack.
*If you have a competitive nature don’t fall into the trap of just wanting to win and continue to increase your price. You may really want the home but having a competitive streak can cause you to dramatically overpay for the house.
*Another angle to simply come in with the best possible offer you can reasonably afford, one that still meets all the other parameters. Then live with it whether you win or lose the house.
Call me direct with any questions you may have 519.386.2441
Dawna McQuarrie
Welcome to my Neighborhood! Growing up alongside the beautiful shores of Lake Huron in the Town of Saugeen Shores I know it's a special place. I love our Saugeen Shores community and all that it has t....
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Multiple offer scenarios requires mortgage to be in place..TIPS TO WIN A BIDDING WAR!Are you losing Homes in Bidding wars!*Step one is to hire a mortgage broker and get pre-approved for a mortgage
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