The Spring Market has arrived early in the Durham Region!  In the past 2 weeks we have seen a huge increase in the number of multiple offer situations in Ajax, Oshawa, Courtice and other surrounding areas.

Low inventory and pent up buyer demand are driving this incredibly active real estate market.

Multiple offer situations can be frustrating for buyers, both experienced in the market and first timers.

Having competed and won in many multiple offer situations I have many strategies to help my buyers come out on top (without blowing the budget).

Here are my top 5 tips on how to better your chances in a multiple offer situation.

1. Provide a large deposit - providing a deposit of $15,000 or more shows the seller that you are serious about closing on their house and that you have no intention of backing out after the emotions wear off.

2. Show the sellers you are qualified - every Realtor uses this same line in an offer presentation - "My clients have been pre-approved for a mortgage."  After a seller hears this 5 or 6 times it starts to lose it's meaning.  Having mortgage approval documentation specific to the seller's home will prove to them that your financing really won't be an issue, making your offer more attractive.

3. Find out what's important to the seller - It's not always about price.  Sometimes closing date or inclusions in the agreement can determine a sellers decision.  Your agent should be doing their homework to find out what exactly motivates this seller.

4. Write your best offer - In most multiple offer situations, home buyers may only have one shot to win.  If your offer falls flat right out of the gate you may not have an opportunity to improve on it so be sure to make your first offer your best offer.

5. Have your agent personally present - Most agents will send in your offer via fax or e-mail in order to save time.  I know from experience that showing up to the offer presentation can sometimes make all the difference.  It's important for the buyer's agent to be there to answer questions, explain positions and most of all sell your offer!

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