You May Not Be the Only One Who Wants to Purchase that Home

Posted by Liliana Sorescu on Monday, July 29th, 2013 at 7:31pm.

You've chosen the home you want here in Vancouver and now it's time to write an offer.
Should you stick with the listed price? Should you try to get it for significantly less? Should you offer just a little more than list price?
The answer depends upon two factors:
  • The list price – is it priced at market value, or did the sellers and their agent engage in wishful thinking?
  • The market in that specific neighborhood – Some neighborhoods are more in demand than others, so buyers are competing and homes are selling above list price. In others an offer for a little less might be successful.
The only way to determine what to do in your specific case is to talk it over with your agent. He or she knows the market in each neighborhood and can tell you both the market value of the home and the level of activity in the neighborhood.
Your agent will know if you'll have a chance with an offer lower than list price or with an offer asking for seller concessions.
Choose an agent who is active and on top of changes in the neighborhoods you're considering – and then trust that agent's advice.
Here in Vancouver you can count on me to give you up-to-date, accurate advice. So call... even if you haven't yet made the decision to buy, it's good to be well-informed.

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