Julie was recently featured in the Globe and Mail, talking about bidding war strategies. We're in the middle of a crazy market and it's tough for buyers, so they have to prepare themselves well before rushing into anything.
There are a few things a buyer needs to be aware of when going into a bidding war and we wrote an extensive guide about it here.
Here is the part that was mentioned in the Globe and Mail:
Julie Kinnear, an agent with Keller Williams Neighbourhood, also recommends trying to build a connection with a seller.
One way potential buyers can do that is to attach a bank draft for the down payment. A bank draft is more secure and therefore may put the seller’s mind at ease.
A buyer who is going to be using financing for the purchase might have a mortgage provider send out an appraiser before the offer date.
Ms. Kinnear adds that bidders who include a personal note about themselves are often successful in winning over the sellers.
In her experience, eight out of 10 times, the buyers who included something personal about themselves with the offer were the triumphant bidders.
Published in Globe and Mail,June 9th, 2016