Offer Strategies When Buying a Home
Choose the Strategy That’s Best for You!
- The “How Low Can You Go” offer
- The “I’ve Got to Have This Home” Offer
- The “Poker” offer
The “How Low Can You Go” offer is contingent on you not having an emotional attachment to the property you intend to purchase. In a buyers’ market, you may find a few homes that catch your interest and you may want to make a lowball offer. This is usually significantly less than the asking price. Lowballs only succeed if the seller is desperate. You may receive a counter offer, but more often than not, the seller will feel insulted and ignore your offer.
We may advise you against presenting such an offer, but will pass it along to the vendor.
The “I’ve Got to Have This Home” offer usually happens when buyers fall in love with the home and want to present their best offer first. This offer leaves no negotiating room, but if the market is hot, it’s an offer that will attract attention. Your RE/MAX associate will convey to the seller that this is your best offer. Most sellers expect to receive an offer and counter with another, so you may find yourself in a situation where you either accept the counter offer, or walk away from the home.
The “Poker” offer usually arises in a sellers’ market where buyers find themselves in a bidding war for the property. If you find yourself in this situation, all of your negotiating strength will be lost. You have the choice to raise the bid, or fold and move on.
The power of waking away is a formidable one, especially when no one else is competing against you to buy the house.
Also keep the following points in mind:
- All negotiating should be done in writing.. don’t relay on oral communication.
- Don’t settle for the first offer presented, especially if not what you expected.
- Do examine each clause, contingency and condition in detail.
- Do consult with a real estate lawyer before signing any papers.
- And always hire a professional real estate agent to represent you – this is what they do, and trust us, you do need the guidance in today’s real estate market.
When buying or selling a home, the Closing day can be intimidating – so much to do! Here’s a quick checklist for Buyers and Sellers to help take the stress away and make your moving day a GOOD DAY!
If you are selling a home, make sure to do the following:
- Call the Municipality to cancel your automatic monthly property tax and provide your real estate lawyer with your tax statement.
- Call the Utility companies to advise of your move and to cancel your accounts and stop automatic debits from your bank account. The meters will be read on your closing day.
- Call your telephone, cable etc., providers to advise of your move.
- Call your home insurance provider (you must maintain insurance through your closing day).
- If you are selling a condominium, call your property management company to cancel the automatic withdrawals of your monthly common element fees/condo fees.
If you are buying a home, make sure to do the following:
- Instruct your mortgage lender/bank to send your mortgage instructions to your real estate lawyer’s office (We need your mortgage instructions 2 weeks prior to your closing date).
- Call the Municipality after you move in to set up your automatic property tax withdrawals if you wish to be on monthly payments.
- Call the Utility companies to advise of your move and to set up your accounts.
- Call your telephone, cable, etc., providers to advise of your move.
- Call your home insurance provider. We will need to have your “insurance binder” the day before your closing date.
- If you are buying a condominium, call your property management company immediately after you move in to set up the automatic withdrawals for your monthly common element fees/condo fees.
If you are selling your home in Burlington, or moving to Burlington and looking to buy a home – contact Lori VanDinther and her team. As a long time residents of Burlington, they are well familiar with all the neighbourhoods, amenities and good locations to either get your first home, start/raise a family or happily retire.
The new master planned community, Alton Village West, is coming to the beautiful Burlington, Ontario! During the initial home development proposal the builder, Sundial Homes, has received an overwhelming amount of positive responses.
Basically, the new development is located north of Dundas St and west of Walker’s Line. The community will be designed around the natural areas like the parks, pond and creek. It’ll definitely be a designer community, and lots of focus will be on the greenfield, nature, etc.
The exact completion of phase I is yet to be known but the sales have already started at the beginning of April 2016. You can register at builder’s website for more info and next steps. Consider getting a buyer’s agent first.
Living in one of Burlington’s most charming neighborhoods, will be grand and comfortable! With the offered 31′ and 36′ single detached, two story, modern, Victorian style homes, there is plenty of space to live and entertain!
Contact Lori VanDinther to help you make the right moves when selecting, negotiating and buying your home in Burlington’s Alton Village West. Having a buyer’s agent to represent you at the sales center is key when buying these kind of homes!