A ‘bully offer’ or more appropriately known as the ‘preemptive offer strike’ is where an offer is submitted by a buyer in advance of the ‘hold back on offer’ date that has been posted. By disregarding the hold back instructions, the buyer aims to ‘bully’ the seller into accepting their bid before anyone else has an opportunity to submit an offer.
For some buyers, the bully offer is a strategy that can secure a property and save them money.
“Essentially, the idea is for the buyer to submit a bid that is priced towards the top end of value based on recent comparable sales, but is lower than their maximum bid,” says Cathy Rocca.
Here, they bypass their competition and can potentially secure the property for less than they are truly willing to pay. In the event the seller refuses to accept the offer, they can still return on the offer date with the same or better bid, however the price may then be somewhat inflated as ‘emotional premiums’ are more likely to occur.
Buyers submit bully offers for two reasons. One reason is that they are in love with the house and they are willing to offer the sellers a sum typically above the asking price simply to secure it. The other reason is when a buyer has been looking for a lengthy amount of time, has lost many homes in competition and wish to put an end to their search.
There are disadvantages for a buyer when deciding whether it is a good idea for them to submit a buy offer. First off, there’s a chance you will pay more for the home than you actually have to. “It’s important to consider the possibility that if you wait for the offer date, there may be no other interested buyers,” says Tanya Rocca, “and if that were the case, you will probably have overpaid considerably for the house.”
On the flipside, however, there could be multiple offers on the offer date and you could be outbid by another buyer.
The dynamics of real estate require both sellers and buyers be prudent, educated, rational and strategic, specifically in markets where there is an imbalance between demand and supply.
This makes it critical you engage the services of a realtor who has experienced both the rise and fall of the value and volume of real estate sales and prices, has the skill set to negotiate in a changing market, and understands the perspectives of each facet of real estate.
The Rocca Sisters have built a solid reputation for serving their clients with a higher standard of professionalism. Their full service, highly responsive, executive team of professionals are deeply committed to providing timely, ethical and comprehensive guidance, and as such they collaborate efficiently as a team to offer added value to your experience.
Contact The Rocca Sisters Team today and let their personal approach and proven results surpass your expectations. Their sales production and volume is consistently one of the top on the Hamilton Burlington Real Estate Board where your home is.
The Easter Event, proudly sponsored by the Rocca Sisters and Associates, was a Sp’EGG’tacular success this past Sunday with thousands of community members enjoying all the activities at Ireland House Museum at Oakridge Farm.
“It was great to see so many happy faces, some new, some familiar, that were thrilled to be creating traditions and life-long memories,” explains Cathy Rocca proudly. “Many families and extended families, grandparents and toddlers enjoyed the day, and that is what we strive for, an inclusive event for everyone!”
“There was so much to see and do, including crafts, face painting, vendor market, silent auction and of course traditional tours of Ireland House Museum,” continues Tanya Rocca.
The sun was out as children participated in the fun-filled activities, including the very popular Easter Egg Hunt. No matter what the temperature, there is something about brightly coloured eggs and an outdoor family event that gets both young and old into the Easter spirit.
Visitors were able to discover local history as they toured the historic Ireland House Museum. Built in 1837, Ireland House was the home of Joseph Ireland, one of Burlington’s earliest settlers. The house came alive with costumed interpreters and cooking demonstrations on the 1830s Rumford Hearth.
Ireland House at Oakridge Farm is one of the oldest heritage homes in the community, and the Museums of Burlington bring past to present by fostering exploration and curiosity.
Admission to this event was free, compliments of The Rocca Sisters and Associates.
We look forward to seeing you at all of our events!
We often become so familiar with our own homes that we overlook things that would be obvious to a potential buyer viewing it for the first time. Home staging has become an important tool to effectively sell homes as it focuses on improving a property and transforming it into an attractive product for sale.
Statistics show time and time again, that a properly staged home will sell for as much as ten per cent more than its unstaged counterpart and in some cases, ten times faster.
“You only have one chance to impress potential buyers,” says Cathy Rocca. “Buyer’s first impressions are formed as soon as they step inside your home.”
The Rocca Sisters are pioneers in this essential ingredient in the home-selling recipe. They don’t, however, just come in and fluff up your pillows. They have contracted a team of professional Stagers who will transform your home into a Buyer’s dream. Their stagers have a STAGED & SOLD® warehouse containing everything you will need to improve the staging of your home.
Here are some of the aspects The Rocca Sisters & Associates focus on when staging their client’s home in order to get it ready for a quick sale, and for top dollar:
CURB APPEAL The outside of your house is the first and last impression the potential buyer has of your home. You have a lot invested and they will help you to optimize its presentation.
DE-PERSONALIZE They will help you keep your keepsakes to a minimum. Remember, you want the potential buyer to imagine themselves living in your home, not to feel like a guest.
LET THE SUN SHINE IN They will show you how to optimize natural sunlight and how to prepare for showings.
FIX IT They have plenty of handy people that we will refer you to so that everything is working as it should.
PAINT IT They will let you know if the colours that your family enjoys are colours that will appeal to the vast majority of purchasers. If they are not, we will make recommendations to optimize purchase appeal.
CLEANLINESS A spotless house is the best way to communicate to potential buyers that your home has been taken care of.
STRATEGIC FURNITURE They will show you how to arrange your existing furniture so that space is optimized. Their stagers may add or remove furniture, if needed and at your comfort level.
SMELLS If present, they will provide you tips on how to mask strong smells that may not appeal to everyone. Enhancing a potential buyer’s experience in your home by way of subtle fragrance is a powerful tool.
DE-CLUTTER They will give a whole new meaning to this concept. They will do a room-by-room walk through and create a plan.
THE HUMAN TOUCH They still want potential buyers to know that someone is living in your home. We’ll show you how to add some human touches to enhance the livibility of your home.
“Staging highlights the full potential of your property by incorporating design techniques to create a lasting first impression,” says Tanya Rocca.
“We understand the importance of a first impression and the true benefits of staging, namely to maximize the selling price and minimize the number of days on the market,” says Cathy.
In order to ensure their clients’ receive a positive selling experience, The Rocca Sisters & Associates offers home staging as an added service available to all homeowners.
Contact The Rocca Sisters & Associates today for a free, no obligation assessment on the value of your home and let their personal approach and proven results surpass your expectations.