Due to the lowest inventory levels …. LIKE EVER … The Sullivan Panorama and South Surrey markets have been buzzing with multiple offers on what seems LIKE … EVERY SALE in the village.
Our buyers (aka our homeless sellers) have been frustrated and anxious for months now. As flummoxed as these conditions make our clients we don’t see these conditions ending for many more months so instead of giving up and moving to Chilliwack here as some tips to help our homeless sellers (aka our buyers) acclimatize.
Come to terms with your Plan B: Now is an amazing time to strike while the iron is hot and sell your home for like - a bazillion dollars - but make sure you have come around to the idea of a short term rental or staying with Mom. This rarely happens to our clients - even in these conditions - but making this mental leap prior to selling your home simply has to be done.
Then when making an offer …
Think value rather than list price: How a seller decides to price his or her home can be dependent on multiple factors but current market value - over list price - should be your primary focus in all market conditions. Take a close look at recent comparable sales prior to submitting your offer so you can feel comfortable your strongest and best offer is rooted in reasonable data.
Be prepared to forego conditions: Sad to say but your opportunity to “think about it” or “sleep on it” will have to be prior to submitting your offer on the predetermined date for offer review. Satisfying yourself with a home inspection, shopping mortgages and calling Mom will all have to be done before you stumble on your dream home. Conditional offers will only serve to drive up the final sale price and leave you back at first base.
Over-prepare everything: Ensure you have a healthy chunk of change on hand for your deposit. Shop rates and determine your lender of choice prior to shopping homes … then obtain an “approval letter” (different than a pre-approval) from your mortgage lender – attach a copy of this to your offer. Bring your inspector to the open house; have a qualified cousin or a professional take a close look around for red flags during what may be the only day/time the home will be open to the public to view.
Turn on the charm: Write your story and have it ready to attach to your offer. A family photo and the intention to make the home and community your own often wins over the almighty dollar … YES … this does actually happen!
OMG get a realtor! This is a must! Your realtor will never show their value more than in a multiple offer scenario. Realtor relationships with their colleagues (possibly your competitors realtor or the listing agent) and an intimate knowledge of the area residents and motivations will provide you with an advantage that out of area realtors or unrepresented buyers simply cannot.
Let go: If at first you don’t succeed … try and try (and maybe try a third time) again! Don’t give up. There is always another “perfect home” right around the corner.
PS: Do you live in Sullivan Panorama? Register your home for our 2016 Community Garage Sale at: http://jennandcolin.com/