It’s obvious with today’s market that IT IS a great to be a buyer.
- There are great mortgage rates available.
- There is an abundance of properties on the market to choose from.
- Buyers can take their time looking for the right property without having to rush into making a decision to purchase.
- Property prices are being reduced.
- Sellers are willing to negotiate.
However, if you have a property to sell…some sellers are not willing to completely take their property off the market and place it in “limbo” while you both wait for your property to sell. Most sellers are keeping their properties on the market in order to take back-up offers.
Don’t think back-up offers aren’t possible in this market. They are and they are happening daily.
“Why is that”, you ask. Simple. Your direct competition is those who have been renting and first time home buyers. Now that interest rates are low, property prices are low and sellers willing to negotiate. It’s a great time for everyone to buy.
Your best option when thinking about writing an offer on a property is to be prepared. Have a mortgage pre-approval and already have an offer on your home.
Don’t delay with planning…you may just find yourself too late. And that goes for any market conditions.
