When considering which of two or more competing offers to accept for your
home, there is no doubt price plays a huge role. After all, if Offer #1 is
$10,000 higher than Offer #2, that’s an enticing difference that puts
thousands of extra dollars in your pocket.
However, price isn’t the only thing you should think about when comparing
multiple offers. There are other factors you need to consider as well.
For example, what conditions are in the offer? If Offer #1 is conditional upon
the buyer selling his current property for a specific amount, then what if that
doesn’t happen? You could end up with an offer that dies and be forced to
list your home all over again.
In that circumstance, accepting the lower offer may be your best move.
There’s also financing to consider. Most buyers will attach a certificate from
their mortgage lender to show that they can afford the home and will likely
secure financing with little difficulty. If you get an offer where the ability of
the buyer to get financing is in doubt, that’s a red flag.
The closing date is another important factor. Offer #1 might propose a
closing date that’s perfect for you, while Offer #2 is four weeks later. If
you’ve already purchased another home, you might require a month of
bridge financing if you accept Offer #2. There’s nothing wrong with that per
se, but the costs and additional hassle are factors you should consider.
As you can see, assessing competing offers isn’t as easy as it looks.
Fortunately, as your REALTOR®, I will guide you toward making the right
You can’t call yourself a dentist unless you have specific hard-earned
credentials. Just about anyone, however, can hang a shingle and call
himself a home improvement contractor. That’s why choosing a reputable
one is so difficult. Here are some tips:
• Find out if he or she is truly in business full-time. A part-time or
occasional contractor may not have the experience necessary to do a
• Ask about licenses and other credentials. Some contractors have
accreditations from professional and trade associations.
• Review his or her project portfolio. A reputable contractor will have
photos and other evidence of work completed for similar clients.
• Check online for reviews. If there are more than five poor reviews
within the past three years — that’s a red flag.
• Ask for references. Then, call at least one.
Finally, the best contractors are those that get recommended by people you
Looking for a contractor recommendation?
Call The Dion-Ivans Real Estate Team today!!
Figuring out how much time you should spend viewing properties for sale is
a little like asking, “How long should I spend trying on shoes?”
The answer seems obvious: As long as it takes to make a decision!
Buying a home is significantly more complex than purchasing shoes – and
the stakes are higher too! You need to make sure you have all the
information necessary to confidently make the best decision.
There are basically three stages to viewing a property:
When you view a home on a macro basis, you’re looking at it from an
overall perspective. For example, you may do a general walk-through to get
a first impression and determine if the property has the basic features you
need, such as the number of bedrooms and the size of the backyard.
Macro viewing is often the fastest stage in the viewing process and can
sometimes take just a few minutes.
If you like what you see, then it’s onto the micro stage. At this stage you
take a closer look at the details of the property. You might, for example,
spend extra time in the master bedroom imagining how your furniture would
look and fit.
The micro stage takes longer simply because the home is now on your
shortlist. You’re interested and are considering making an offer.
Finally, the professional stage involves getting a qualified home inspector to
go over the property with a fine tooth comb. That typically occurs after
you’ve made an offer.
As your REALTOR®, I will guide you through a viewing so you’ll know what
to look for and can make a smart, informed decision.
Call The Dion-Ivans Real Estate Team today!!
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.