Offer Strategies When Buying a Home

Offer Strategies When Buying a Home

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.
Recreational Property 2017 stat

2017 RE/MAX Recreational Property Report

RE/MAX released their annual Recreational Property Report for 2017, and here are 3 interesting facts:

  • 43% of Canadians would consider buying a cottage or some type of recreational property in the next 10 years.
  • 28% of Canadians with children under the age of 18 would consider selling their primary residence in order to help finance the dream recreational property.
  • 56% of Canadians spend time at a cottage to find peace and quiet.

There is also a trend for people to consider fractional ownership, by buying the recreational property with a friend, a family member or by renting out on websites like AirBnB.

A large number of recreational property buyers are young families with children and retirees, who are selling their homes and in turn buying cottages.

But they’re not the only group expressing interest in recreational property ownership. A Leger’s survey of Canadians, showed that 65% of millennials are planning to buy a cottage, cabin or ski chalet in the next 10 years. Some of them would consider this as an investment vehicle too.

Featured recreational property locations in Ontario are:

  • Thunder Bay
  • Manitoulin Island & The French River
  • Lake Huron
  • Georgian Bay
  • Lake Simcoe & Area
  • Muskoka & Haliburton
  • Peterborough & The Kawarthas
  • Rideau Lakes Region

See the full 2017 RE/MAX Recreational Property Report.

Burlington scored best mid-sized city in Canada – Fifth year in a row

July 4th 2017 was a proud day for all Burlington residents, and all those in the past and present working hard to make Burlington, a true gem of a city! According to MoneySense, Burlington is best mid-sized city in Canada and the second best city in Ontario to live in.

MoneySense uses their own methodology to establish a comprehensive data-driven snapshot of Canadian cities and towns, taking into account things like demographics, unemployment, income & wealth, affordability, taxation, mobility, crime, weather, health care, amenities, culture & community. This year was their 14th edition and they’ve included even more cities in the report, about 417 cities to be exact.

Burlington scored high with having low crime, great weather and high wealth and incomes. It is also considered a top place to retire and a welcoming place for new Canadians.

Here is a summary of their 2017 reports (looking at Ontario and how Burlington compares):

Burlington is 2nd best place to live in Ontario after Ottawa.

Burlington  is 4th best place to retire in Ontario, after Ottawa.

Burlington is 7th best place for weather in Ontario after Thorold.

Burlington is 14th best place for new Canadians in Ontario, after Ottawa.

Burlington is 20th best place to raise kids in Ontario, after Oakville.

Overall, Burlington scored well and is an awesome city to live, work and play in. The city has come a long way and it’s continuously improving and growing. There are new developments all around, infrastructure upgrades, social and cultural programs underway. It’s a thriving city that’s got something for everyone. Situated between Toronto and Niagara Falls, well connected to all the major highways, positioned by lake Ontario – Burlington real estate is a good choice.

Burlington Mayor, Rick Goldring commented on MoneySense 2017 best places to live in Canada report: “There are many moving parts that go into creating a city, from economic prosperity to cultural vibrancy, from preserving history to building healthy communities. This is an acknowledgement of all of the people, past and present, who have worked to make Burlington the great city it is today.”

For all your Burlington real estate needs, be it buying or selling a home, contact Lori VanDinther and the team to help you make the right moves.