How To Compete Responsibly In A Competitive Market
The first three months of 2019 have demonstrated that we are still in a competitive active market. Since January, off-water homes in the Huntsville area have sold for an average sale price of $394,780, averaging 67 days on market and selling for 98.59% of list price. 96 new listings entered the market with 75 sales over those three months. The inventory we gain, doesn’t stick around.
So how do you, as a buyer, compete responsibly in this type of market?
Buyer Strategies…and it’s not always about price
- Know the market, shop and compare prices of similar properties.
- Have a letter of commitment from your financial institution or Mortgage Broker – know what you can afford. Note, this does not necessarily warrant waving a financing condition – but adds strength to your offer.
- Try to work with the seller by learning what the seller needs from the deal. ie.) A quick or a late closing date?
- Provide a letter of introduction – helps the seller know a little more about you.
- Do a home inspection prior to the offer.
- Work with an experienced Realtor who is working for you.
- Know the maximum you are willing to pay – avoid getting caught up in the desire to “win” losing sight of what you can truly afford. This could end up costing you.
- Submit your offer as soon as possible.
- Ask your Realtor to present in person, in front of the Seller and their Realtor if feasible.
- Have a short irrevocable.
If the Seller accepts your offer, great! You came in prepared, confident and you can feel good about moving forward with your purchase. Congrats!
If the Seller did not accept your offer…NEXT! If you were as prepared as you could have been and offered a price you were comfortable with, then you can walk away (albeit disappointed) onto the next home, which could “be the one”. There is ALWAYS another home.
When the time came that I was finally okay with selling my home having Kim as the realtor to sell it wasn’t even a question. Kim made the process so easy. Being a brand new Mom at the time and having to work around showings, she knew exactly how much…
“Thank-you to Kim O’Grady for representing us in the successful sale of our Huntsville home. We set high standards for service, but Kim sets her own bar even higher. Her positive outlook, professional competency, responsive communication, attention to detail and personable sense of humour make her fun to do business…
"Kim is extremely pleasant, personable and professional. She suggested a great strategic plan to sell our home including advertising initiatives and an open house. We had several offers within 12 hours of listing our property, and we were more than happy with the selling price received, which was more than…
“We would like to take this opportunity to thank Kim O’Grady for the time she spent assisting and advising us on the properties in the Muskoka’s. Her extensive knowledge was extremely useful and resulted with a purchase in the town of Bracebridge. We would gladly recommend Kim for future referrals.”
“Thank you Kim for helping us with the purchase of our cottage! Your unique combination of warmth and professionalism was very much appreciated. We felt well so well informed and supported at every step of the process! I will recommend Kim to everyone looking to buy a home or cottage!"
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