10 Ways to Get Your Offer Accepted in the Hot Toronto Market

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Trying to buy a home in Toronto can be a frustrating experience.  I have listed 10 tips that will help you win in this heated market.

1. Make your offer as “clean” as possible. Clear any conditions like financing before you put the offer in.

2. Don’t ask the seller for their personal property that are not in the listing.  If they did not include it, they probably want to keep it.  I have seen deals fall through over something as small as the drapes!

3. Ask your agent to find out what’s important to the seller (price, terms, closing date, etc.) and then craft your offer around this information.

4. The typical inspection period is 5 days long. Consider doing your inspection BEFORE you put your offer in.  This way you can submit a clean offer.

5. You may have to offer more than the list price. Really? Yes. Really.  The price that you will pay is the price the market will bear.

6. A typical earnest deposit is $20,000 on any property in Toronto. Give the seller more than this to show you’re financially strong and serious about buying the home.

7. For first time buyers, agree to get pre-qualified with the listing agent’s preferred lender. This doesn’t mean you have to finance the home with the listing agent’s preferred lender. It will just reassure the sellers that you really are qualified to purchase their home.

8. Write a letter explaining why you chose the seller’s home and why you want to live there. You may even include a photo of your family, if you feel comfortable doing this.

9. Make sure you’ve provided all of the required documents with your initial offer. If a seller receives multiple offers, one of the first things he/she often does is throw out the sloppy and incomplete offers.

10. In a multiple bid situation, put your best offer in first.  Your best offer is the maximum amount your are prepared to pay for the house.

If you are are looking for help in purchasing your home, please let me help.  You can contact me through by My Website

Good luck and happy home buying!