Buyer’s Corner: How to win a bidding war even with a home inspection

main

Photo credit: http://www.acqspec.com

Burlington’s hot button right now is its sellers’ market. This type of market condition means there is not enough inventory for the amount of buyers looking to make a real estate purchase. Just last month only about 9 per cent of properties took longer than 7 days to sell in Burlington.

What does this mean for our real estate climate? Bidding wars where there’s multiple offers on one property at the same time, are becoming all too common. Home buyers feel pressure to make the purchase process go quickly and they’re all too often tempted to skip the home inspection. Missing this crucial step can lead to financial burden.

Here are the top two options you have to protect yourself while being competitive:

1. Use the seller’s home inspection report and contact the inspector. If the seller provides their own inspection report you have the option of using it. And if you do go this route, the important thing to do is to have the inspector provide you with a walk through of the report so that you understand all items and details.

2. Use a pre-offer home inspection clause. If there is time before the offer, you can usually set-up a pre-offer inspection. This will put your fears to rest and can make the purchase process run quickly.

Let our highly responsive, executive team of professionals cater to all of your real estate needs. Call us today at 905-335-4102 or email us at info@roccasisters.ca to learn more about home staging and request a free evaluation. The Rocca Sisters & Associates’ personal approach and proven results will surpass your expectations!

Posted on April 7, 2014, in Buying a Home and tagged , , , , , , , . Bookmark the permalink. Comments Off on Buyer’s Corner: How to win a bidding war even with a home inspection.

Comments are closed.

%d bloggers like this: